Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

'Serpent Pastor' Dies of Snake Bite Mack Wolford believed faith compelled him to face the risk »

Goldman Engineered 'Every Market Manipulation' Post-Depression

By Wesley Oliver, Newser Staff

Posted Jul 5, 2009 12:30 PM CDT

(Newser) – The recession has been good to Goldman Sachs: The world’s most powerful investment bank snatched $10 billion in TARP funds, reclaimed $13 billion from AIG, watched archrival Lehman Brothers disintegrate, and found alumni spearheading Washington’s economic rescue effort. But this isn’t new,... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

10 comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Miami Face-Eater Identified

Rolling Stone (Source Grid »)

Money • Politics

Barack Obama • cap and trade • Goldman Sachs • Henry Paulson • AIG • TARP

More Newser Stories

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

Geithner, Paulson face grilling over 'backdoor bailouts' for AIG clients

(NEWSER) - Two Federal Reserve governors expressed their unease about the Fed's rejection of a plan to force big banks to return $30 billion in cash they received from AIG before its bailout in late 2008. The officials warned that the decision to let the banks, including Goldman Sachs, keep the collateral they paid AIG on credit insurance contracts might be "a gift" to the firms, according to documents obtained by the New York Times. More»

Disgruntled Dem Wants Geithner, Summers Sacked

Peter DeFazio says White House betrayed Main St. for Wall St.

(NEWSER) - Rep. Peter DeFazio wants Barack Obama to fire the Larry Summers and “Timmy Geithner” for being Wall Street lap dogs, and says there’s a “growing consensus” in the Progressive Caucus that agrees with him. Summers and Geithner oppose a Progressive proposal to use unspent TARP funds to create jobs through infrastructure projects. “We think it is time, maybe, that we turn our focus to Main Street,” the Oregon Democrat tells MSNBC’s Ed Shultz. More»

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

(NEWSER) - James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense reading. “I don’t think I can take another day of this,” one banker says getting out of the Goldman Sachs car on Day 4. “You’re getting out of a Mercedes to go to the New York Federal Reserve,” snaps Bernanke. “You’re not getting out of a Higgins Boat on Omaha Beach.” Not quite, at least. More»

Paulson Still Dogged by Ethics Queries

Ex-Goldman exec coddled firm as Treasury sec, critics say

(NEWSER) - As a former Goldman Sachs exec, Henry Paulson vowed to avoid any potential conflicts of interest when he was appointed President Bush’s Treasury secretary. But seven months after he left office, the nagging questions surrounding Paulson’s tumultuous term in office suggest he may not have succeeded, Gretchen Morgenson and Don Van Natta Jr write in the New York Times. Critics remain suspicious of Paulson’s role in engineering a bailout for Goldman creditor AIG and dozens of conversations with his successor at Goldman. More»

Goldman Back on Top, Thanks to Uncle Sam

Competitors killed off, AIG conveniently saved, bank rakes in profits

(NEWSER) - Goldman Sachs reported a $1.8 billion profit yesterday, and it owes it all to its helpful Uncle Sam, writes William Cohan in the New York Times. “Government Sachs,” as it’s come to be known, has been pulling Washington’s strings for years, and now its competitors are all dead or in ruins—thanks largely to former CEO Hank Paulson, who played a key role in the fall of Bear Sterns and Lehman Brothers, and the Merrill Lynch buyout. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Goldman Engineered 'Every Market Manipulation' Post-Depression

Barack Obama • cap and trade • Goldman Sachs • Henry Paulson • AIG • TARP

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

Geithner, Paulson face grilling over 'backdoor bailouts' for AIG clients

Disgruntled Dem Wants Geithner, Summers Sacked

Peter DeFazio says White House betrayed Main St. for Wall St.

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

Paulson Still Dogged by Ethics Queries

Ex-Goldman exec coddled firm as Treasury sec, critics say

Goldman Back on Top, Thanks to Uncle Sam

Competitors killed off, AIG conveniently saved, bank rakes in profits

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?