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Loren Feldman explains the fascinating decade-long legal battle between investment kings Goldman Sachs and technology company Dragon Systems over the $580 million business deal that crumbled.

It’s the NY Times article that everyone is talking about — Goldman Sachs executive director Greg Smith resigned from the investment bank today, revealing that staff there call their clients “muppets” and ignore their best interests to make GS more money.

Financial markets were swept up in a frenzy of optimism overnight, as rumours swirled that the eurozone was preparing to radically boost the powers of its bailout fund, writes Karen Maley of Business Spectator.

Crikey readers have their say.

A 650-page report from a bipartisan US Senate Committee was scathing of Wall Street investment banks, stating Wall Street is a “financial snake pit rife with greed, conflicts of interest, and wrongdoing”. Goldman Sachs copped the brunt of the criticism.

Risk assets, such as shares and commodities, were sold off heavily overnight, as investors worried about the damage that high commodity prices are inflicting on global growth, writes Karen Maley, of Business Spectator.

Overnight the US Securities and Exchange Commission revealed it had fingered one of the most senior people in the American business establishment on insider trading charges.

Is monies earned by investment bankers really any more legitimate than monies stolen by dictators?

Sometimes important corporate news is ignored. Shareholders miss it, companies hide it and governments fail to publicise it.

It’s relatively common in old boy style businesses — ie. at Goldman Sachs in the US — for events to be held at upscale strip clubs or for sexy dancers to appear. But why do we tolerate this sexism in the office? asks Tracy Clark-Flory.

Macquarie’s worsening performance and lacklustre return on equity is the inevitable result of a business that has lost its primary competitive advantage.

Overnight saw the release of the latest report by Jim O’Neill, the global chief economist for Goldman Sachs, who provides the most convincing argument for the bullish cause, writes Karen Maley of Business Spectator.

Talk of a double-dip in the US economy is no longer confined to the mutterings of super bears in dark alleys, writes Karen Maley of Business Spectator

In a sense it’s a measure of America’s misery that in a new era of deflation and tight credit, it celebrates a Bill that curbs the banks.

The Australian and the Financial Review demanded that the Government retreat on the RSPT. Now that the Government has done exactly that, they’re giving it a flogging.

What happens when the smartest guys in the room are shown to be the dumbest? They sue.

It’s hair shirts all around in London … Italy cuts public sector hiring and pay … Changes in the wind for US bank ratings … Car sales figures here are up on last year … Brazil waxes lyrical about another big oil find …

The New York Times has dealt a “devastating” blow to Goldman Sachs, with an extensive front-page report into the company’s conflicted business position and dodgy deals. The article is now the talk of the business world.