Goldman Sachs


Goldman starts grovelling

Goldman Sachs is attempting to make-over its greedy image by apologising for that little Global Financial Crisis incident and spending $500 million to help small businesses recover from the recession.

Goldman Sachs outsources lending to charity

You can’t but help be very very cynical about the news that Goldman Sachs and Warren Buffett are going to rustle up half a billion bucks and lend it to small businesses.

Goldman doing “God’s work”; in kitten shame

Goldman Sachs’ antics continue to give Wall Street a bad name, writes David Hirst: publishing an upbeat report on real estate investment trusts while small town and Main Street America stagger to a forlorn future.

Banks: God’s work or a highway to hell

So if bankers are doing “god’s work as the Goldman Sachs boss says they are, where’s the Devil in all of this? Well, judging by the number of banks going belly up in the US, death is definitely in the air.

Goldman Sachs secretly banked on the US housing crash

How did Goldman Sachs emerge from the financial crisis in such good shape? By simultaneously selling more than $40 billion in mortgage-backed securities, while secretly betting that the US housing market would crash.

Shit hits the fan for Wall Street’s shadow bankers

America’s biggest insider case is starting to spread, snaring some of Wall Street’s bluest-of-blue-blood banks in its web. Explosive claims are emerging, including disclosures on the dodgy trading of the Galleon hedge fund.

Political economy: How best to regulate the financial system

It has been observed that if a bank is too big to fail it is too large to live, writes Henry Thornton. Goldman Sachs is in the class of organisations that should be allowed to fail.

Goldman Sachs: “Pay inequality benefits all!” Errr…

A Goldman Sachs adviser has lauded Wall St execs receiving huge paychecks and bonuses as “a way to achieve greater prosperity and opportunity for all.”

Krugman: Big Banks are still buggered

Don’t be fooled by their cash splashing bonuses and reported “record profits”, says Paul Krugman: the big banks are still in deep poo; they’re just really good at pretending they’re not.

Despite rebound, US still hasn’t got its housing in order

Stand by for the “two-speed America” story to start emerging: that’s where the rebound in financial markets and on wall Street is way ahead with the sluggish wider economy, especially housing.

Goldman Sachs to dish out $23b in bonuses

Insurance firm Goldman Sachs will give out $23 billion in bonuses this year — twice as much as last year — despite America’s ongoing recession and the fact that the company had to be bailed out by the US government last year.

REVEALED: Who’s on Timothy Geithner’s speed dial?

The AP has obtained seven months of US Treasury Secretary Timothy Geithner’s appointment records, finding he spends more time chatting with executives from Goldman Sachs, JPMorgan and Citigroup than the President himself. Is he getting too close to Wall St?

How capitalism financed Michael Moore’s Capitalism

Michael Moore’s new film, Capitalism: a love story rips into the free-market and its money-grubbing ways. How delightfully ironic, then, that Goldman Sachs funded the film’s executive producers to the tune of $1b. We wonder who will get the last laugh, though?

Goldman Sachs offers secret tips to top clients

Goldman Sachs provide their top 50 clients with stock tips that differ from their published reports, the WSJ reports.

Goldman Sachs: ugly essence of capitalism?

Joe Hagan explores Goldman Sachs’ dark days — the AIG bailout and the damaged public reputation that dogs it. But for their employees: “The god is Goldman.”

Business as usual on Wall St as big bonuses return

Buoyed by a recent boom in profits, Wall Street’s biggest banks are setting aside billions of dollars for executive bonuses, only months after they were rescued by the government bailout. Said government is less than impressed.

What caused the sub-prime crisis?

In a three part series, Obamanomics author John Talbott and former chief IMF economist Simon Johnson spread the blame far and wide.

The new Wall St world order

Two companies have risen from the ashes of Wall St to tower over the former financial titans who used to rule the strip: JPMorgan and Goldman Sachs are surging ahead of others on the Street.

The Goldman exception that proves the rule

It’s now clear the big profits reported by Goldman Sachs and JPMorgan last week were not indicative of the health of the American economy.

Goldman Sachs is bad for America

Goldman Sachs’ over-the-top profit results highlights the hypocrisy haunting Wall St, writes the venerable Paul Krugman.

Pope’s economic analysis is on the money

The Pope’s recent encyclical on the economy is “without doubt the most articulate, comprehensive and thoughtful response to the financial crisis that has yet appeared” writes Goldman Sachs Vice Chairman Brian Griffiths.

Crikey Says: Goldman Sachs: profiting from others’ misfortune

Today’s editorial is brought to you by Crikey subscriber Julian Gillespie: Goldman Sachs (global) released their Q2 figures overnight — apparently they profit well from most other economies’ recessions.

The devil in the Goldman profit detail

While Goldman Sachs and its record profits can fool some in the markets, including analysts and fevered fund managers, the hard heads are still sceptical.

The lessons from Goldman Sachs’ profits: a Crikey wrap

Investment bank Goldman Sachs has charged out of the credit crunch and Government bailout with an impressive $US3.4 billion net profit in its second quarter. It’s a golden recovery story but there are questions, writes Heather Murphy.

Goldman Sachs’ profits aren’t green shoots

Goldman Sachs had a bumper quarter with $3.44b profit. But before popping the champagne and celebrating the end of the financial crisis, Adrienne Carter explains why Goldman is an exception.