Post Tagged with: "Goldman Sachs"
Were the Goldman Senate hearings show trials or the precursor to reform?
On this edition of Peter Lavelle’s ‘CrossTalk’ he asks his three guests including me whether the US Senate hearings humiliating Goldman Sachs are merely a show trial with the aim of watering down global financial reform. Take a look at what we have to say in the video below. The point where I got cut
Goldman’s public purpose and where I have problems with the Abacus deal
As I said yesterday, investment banks are institutions which do fulfil a useful role in society. I would define their role as companies where large institutions and governments receive financial advice and raise capital. Goldman Sachs is an investment bank. As such, Goldman must offer financial advisory services, capital markets origination, and secondary market support
Is Goldman fulfilling its public purpose?
Look back at the prepared testimony that Lloyd Blankfein, Goldman’s CEO offered to the US Senate two days ago. In it he clearly defines what Goldman Sachs public purpose is – what its societal function is. Are they fulfilling that role and if not what do we do about it? To me this is the
Business as usual on Wall Street and political posturing in Washington
In 2007, a credit crisis centred in the US subprime market began. It metastasised into a monstrosity of epic proportions that led to the worst and only synchronized global downturn since the Great Depression three-quarters of a century ago. The result was a massive bailout of the largest financial institutions in America and around the
Links: 2010-04-28 Greece Goldman Greed (and Fear)
Goldman Whitman says she regrets now-banned stock deals through Goldman Sachs – San Jose Mercury News Goldman boss Lloyd Blankfein denies moral obligation towards clients – Telegraph David Prosser: Goldman Sachs is just the start of the battle to tame Wall Street – The Independent The Goldman E-mails, or How to Sell Junk – DealBook
Pain
I was on two TV programs talking about Goldman today. That’s actually a first. Of course it’s always nice to asked to speak about finance away from Credit Writedowns and I will provide you with the videos and some commentary later tonight or tomorrow. But, I was thinking as I walked away from the studio:
Prepared Testimony of Lloyd C. Blankfein for Tomorrow’s Senate Hearing
Below are the prepared remarks of Goldman’s CEO Lloyd Blankfein for his testimony tomorrow before the Senate Subcommittee on Investigations. Fabrice Tourre will also testify. Chairman Levin, Ranking Member Coburn and Members of the Subcommittee: Thank you for the invitation to appear before you today as you examine some of the causes and consequences of
Guest Post: Questions from the Goldman Scandal
This is a post by Bill Black and Eliot Spitzer which originally appeared at New Deal 2.0. Bill Black is an associate professor of economics and law at the University of Missouri – Kansas City (UMKC). He was the executive director of the Institute for Fraud Prevention from 2005-2007. Eliot Spitzer is the former New
Links: 2010-04-22 Goldman, derivatives and everything else
If you would like to receive our links in real-time please follow me at @edwardnh or go to our site’s News Feed page. Derivatives-related news FT Alphaville – Izabella Kaminska – Hungarian watchdog fines Deutsche Bank on FX swap deals Janet Tavakoli: ProPublica’s (and NY Times’) "Untold" Magnetar Story Creates Excuses for Wall Street and
John Paulson’s letter to investors defending his firm’s actions in the Abacus deals
Paulson Letter on Abacus
Why don’t the President’s ethics rules apply to Greg Craig, now at Goldman
"As far as the White House is concerned, it’s case closed for Greg Craig’s newest legal venture representing Goldman Sachs against the Securities and Exchange Commission. Administration spokesmen brushed aside questions about whether it was improper for Goldman to hire Craig, who served as Obama’s chief counsel for nearly a year before leaving due to
Goldman gets ex-White House counsel
Goldman Sachs is launching an aggressive response to its political and legal challenges with an unlikely ally at its side — President Barack Obama’s former White House counsel, Gregory Craig. The beleaguered Wall Street bank hired Craig — now in private practice at Skadden, Arps, Slate, Meagher & Flom — in recent weeks to help