Blogs: Posts Tagged ‘ goldman sachs ’

The Wall Street Journal crunched some numbers and declared that, even though 10 percent of U.S. citizens are out of work while most of the rest are taking pay cuts, the Gilliganesque bunglers in the financial sector are again partying like its 1999, only more so. According to the Journal: Total compensation and benefits...
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Good news today as Bloomberg News won its federal lawsuit to find out which giant corporations the Federal Reserve lavished big money on, and how much. It’s pretty outrageous that it took a nine-month legal battle to get this basic information, but that’s life in a democracy, right? Of course, in addition to its...
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The Wall Street Journal reports that the Securities and Exchange Commission is investigating “Flash Trading,” one small way the rich get richer at the expense of everyone else. That should keep them away from the big issues. But at least Paul Krugman is with me on the connection between Goldman’s stock-market manipulation and Citi’s...
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The Wall Street Journal (pay site) has an interesting line today on an old and growing problem—the widening gap between the folks at the top of the income pyramid and the rest of us. Turns out the pay gap is part of what threatens Social Security. To recap for those who have not been...
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So, in a week where Goldman Sachs reported mega billions in quarterly “earnings” and even CitiGroup squeezed out $4 billion, I have to direct your attention to the Columbia Journalism Review’s “The Audit” blog where, for several months, some of the best business reporting has been compiled. Today the prolific Ryan Chittum posts on...
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The Wall Street Journal (pay site) published a great story today explaining the power of the New York Federal Reserve Bank and its coziness with the very intelligent, extremely rich people who, despite their extraordinary powers of financial intelligence, essentially bankrupted our economy. Stephen Friedman, chairman of the New York Fed, resigned Thursday, saying...
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Congressman Elijah Cummings (D-Baltimore) sent a letter yesterday to the inspector general for the TARP program, asking what could be a relevant question about the bailout of AIG: Who is watching out for the taxpayers? The letter, signed by 26 other representatives, received coverage in the New York Times this morning along with a...
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AIG, the giant insurance firm we taxpayers have given $173 billion to keep from collapsing, has lately got itself in the news for paying out a “contractually obligated” $165 million to the key employees of its “Financial Products Division.” Financial Products are the derivatives guys. They’re the geniuses who sank the company. President Obama...
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The Columbia Journalism Review’s Dean Starkman posted an analysis today on why we should be outraged. He points out that the AIG bailout money ($123 billion, give or take) is going straight to counterparties -including Goldman Sachs-and not even stopping at AIG long enough for a cup of coffee. But who are all these...
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