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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: Goldman Sachs

Goldman Sachs stories: 179 news summaries

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editorial

 NYT to Blankfein: 
 Your 'Apology' 
 Is Bull  

Editorial board schools Goldman CEO in true meaning of 'sorry'

Nov 22, 09 4:53 PM CST
(Newser) - Lloyd Blankfein took his sweet time acknowledging his firm's role in almost toppling the financial system, and the New York Times editorial board stewed until today, when the paper's audience is largest. The Goldman Sachs CEO said in a speech this week, "We participated in things that were clearly... More »

MORE ABOUT:
Goldman Sachs • CEO • credit crisis • apology • Lloyd Blankfein • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP • Bureau of the Public Debt

MARKETS

 Dow Dips 14; Energy, Tech Fall 

Dow gains 0.5% for the week, other indices fall

Nov 20, 09 3:10 PM CST
(Newser) - Energy stocks led declines on Wall Street today after Goldman Sachs downgraded coal firm Peabody Energy, and Dell reported a bigger-than-expected profit decline, the Wall Street Journal reports.
  • The Dow closed down 14.28 points at 10,318.16.
  • The Nasdaq lost 10.78, closing at 2,146.
... More »

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Dell • Goldman Sachs • Dow Jones • Nasdaq • S&P 500 • Peabody Energy

 Goldman Bonuses 
 Irk Investors, Too 

Shareholders question need for $20B in bonuses

Nov 20, 09 7:35 AM CST
(Newser) - With Goldman Sachs on course to hand out the highest bonuses in its history, it's not only furious populists who are complaining; investors, too, are getting into the act. Major shareholders, who have stayed out of the executive compensation controversy until now, are calling for the bank to cut back... More »

MORE ABOUT:
Wall Street • executive compensation • Goldman Sachs • shareholders • executive bonuses • Goldman bonuses

Disgruntled Dem Wants Geithner, Summers Sacked

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

Nov 19, 09 10:42 AM CST
(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... More »

MORE ABOUT:
Barack Obama • Wall Street • Goldman Sachs • Larry Summers • Wall Street bailout • Timothy Geithner • TARP • Peter DeFazio • progressives

Goldman Pumps $500M Into Small Businesses

Blankfein apologizes— but not for the $16B payout to employees

Nov 18, 09 9:20 AM CST
(Newser) - In a move that definitely has nothing to do with spiraling public hostility, Goldman Sachs has announced a $500 million small-business assistance program. Headed by an advisory panel that includes Warren Buffett and Lloyd Blankfein (he who works for God ), the so-called “10,000 Small Businesses” program will... More »

MORE ABOUT:
Goldman Sachs • Warren Buffett • charity • bonuses • small business • Lloyd Blankfein

best plan is no plan



 Goldman to Insurers: 
 Health Reform Will Hurt 

Who knew Wall Street and teabaggers could agree?

Nov 13, 09 9:48 AM CST
(Newser) - Here's a reason for Goldman Sachs to be even more popular with the public: The investment bank has issued research on private health insurers advising that fighting off reform would best for their bottom line. Goldman takes as the “base” case passage of the bill that exited the Senate... More »

MORE ABOUT:
Congress • stock market • Wall Street • Goldman Sachs • profits • legislation • health care reform • market research

$250K APIECE

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Nov 9, 09 4:55 AM CST
(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,... More »

MORE ABOUT:
executive compensation • Goldman Sachs • Morgan Stanley • bonuses • compensation • Federal government • bailout • JPMorgan Chase • executives • Wall Street bailout • TARP

masters of the universe

 Goldman's 
 Blankfein 
 Is 'Doing 
 God's Work' 

A look behind the scenes at the omnipresent bank

Nov 8, 09 2:34 PM CST
(Newser) - Lloyd Blankfein likes to say he's "attained perfection," a plausible-sounding assertion now that Goldman Sachs has repaid its TARP funds and is dishing out mammoth bonuses. "I don’t want to put a cap on their ambition," the CEO says of his employees. "It’s... More »

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Wall Street • Goldman Sachs • Lloyd Blankfein • bailout • investment banks • Wall Street bailout • bank-holding company • TARP

Goldman Deal May Bail Out Fannie Mae

But letting superbank load up on tax credits could be politically toxic

Nov 2, 09 9:12 AM CST
(Newser) - Goldman Sachs wants to buy millions in otherwise virtually worthless tax credits from Fannie Mae, but the mega-bank is so politically toxic right now that the Obama administration is considering blocking the deal, the Wall Street Journal reports. “Treasury is reviewing and will not let it proceed unless... More »

MORE ABOUT:
Goldman Sachs • Fannie Mae • Treasury Department • tax credit • bailout

 Goldman Seizes Homes 
 as Securities Sour 




Just getting them to admit they hold your mortgage can be an ordeal

Nov 2, 09 8:21 AM CST
(Newser) - Imagine finding yourself in a foreclosure battle and discovering that your opponent isn't the obscure lender who wrote your insane mortgage, but the formidable Goldman Sachs. It seems that after years of buying subprime mortgages and packaging them into bonds, at a handsome profit, Goldman is now in the business... More »

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housing market • Goldman Sachs • subprime mortgages • Henry Paulson • foreclosure • subprime crisis • mortgage defaults

pundit roundup

Bush as Motivational Speaker? It's Not That Funny

Ex-president's new gig elicits generates mockery, some populist cred

Oct 22, 09 1:52 PM CDT
(Newser) - George W. Bush's upcoming gig as a motivational speaker in Fort Worth has wags weighing in:
  • Jason Zengerle, New Republic: A bit "undignified," for sure, but remember that Bill Clinton and others make buckets of cash from speaking gigs. "At least Bush's buckraking is sort
... More »

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Goldman Sachs • Bill Clinton • motivational speaker • George W. Bush • former presidents • speaking fee

Goldman Exec: Pay Inequality Is Good for All

Soaring Wall Street bonuses should be tolerated for economy's sake

Oct 21, 09 6:00 AM CDT
(Newser) - Believe it or not, lavish Goldman Sachs bonuses are good news for everybody, a company official told a discussion panel yesterday. The out-of-whack pay inequality will give the economy a kick in the pants, insisted the vice chairman of Goldman Sachs International. "We have to tolerate the inequality to... More »

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executive compensation • Goldman Sachs • bank • bonuses • financial sector • executive bonuses

PAUL KRUGMAN

 In Switch, 
 'Real Economy' 
 Hits Big Banks 

Slumping profits are 'payback' from Main Street whipped by bad practices

Oct 19, 09 9:49 AM CDT
(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are... More »

MORE ABOUT:
Bank of America • Goldman Sachs • recession • Citibank • credit crisis • Paul Krugman • lending practices • Larry Summers • Obama administration • financial crisis • economic downturn

 29-Year-Old SEC Honcho 
 Came From Goldman 

New COO Adam Storch did 'business intelligence' at connected Wall Street bank

Oct 16, 09 2:08 PM CDT
(Newser) - The first person named to the new chief operating officer position in the SEC’s enforcement division is a 29-year-old whiz kid who previously worked at uber-connected Goldman Sachs, Bloomberg reports. "Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division," his... More »

MORE ABOUT:
fraud • Goldman Sachs • Bill Clinton • SEC • Federal government • COO • regulator • Securities and Exchange Commission • Adam Storch • chief operating officer • enforcement • Robert Khuzami

Q3 EARNINGS

Goldman Tops $3B in Profit, Blows By Estimates

Bank triples profit last year, sets $5.3B aside for pay, bonuses

Oct 15, 09 7:13 AM CDT
(Newser) - Goldman Sachs is even more golden than we'd thought. The top firm on Wall Street posted a record third-quarter profit of $3.19 billion, a billion dollars higher than expected, thanks to returns on advising on takeovers and more aggressive investing. That quarterly result more than triples the $845 million... More »

MORE ABOUT:
executive compensation • Goldman Sachs • earnings reports • third quarter earnings • Lloyd Blankfein

Once-Reserved Goldman Turns on the Charm

Ahead of record result, normally reticent bank puts on a smile

Oct 15, 09 3:35 AM CDT
(Newser) - Today's the day: Goldman Sachs is set to announce record profits in the third quarter, projected at $2.17 billion, and with it a compensation pool larger than Wall Street has ever seen. But the golden bank knows a PR disaster when it sees one—and has been mounting a... More »

MORE ABOUT:
Wall Street • executive compensation • Goldman Sachs • bonuses • third quarter earnings • Lloyd Blankfein • quarterly profits • executive bonuses

 Wall Street 
 Forking Out 
 Record Pay 

Pay at top firms expected to hit $140B as markets rebound

Oct 14, 09 5:36 AM CDT
(Newser) - Major financial firms have bounced back from the brink of meltdown and are on course to hand out their biggest-ever pay packages this year. The total payout at the big banks and securities firms will hit $140 billion this year, according to Wall Street Journal projections based on revenue figures... More »

MORE ABOUT:
Wall Street • executive compensation • Goldman Sachs • bank • financial institutions • executive bonuses

OPINION

Stop Whining, Let Goldman Have Bonuses

$23B is galling, but
at least the bank is sensible: Sorkin

Oct 13, 09 5:45 AM CDT
(Newser) - On Thursday Goldman Sachs is set to announce its third-quarter results, but the talk of Wall Street is the size of this year's bonus pool—predicted to be more than $23 billion. That's the largest figure in the company's history and twice as much as it paid out in 2008,... More »

MORE ABOUT:
executive compensation • Goldman Sachs • bonuses • financial crisis • Wall Street bailout • Andrew Ross Sorkin • clawback • executive bonuses

ANALYSIS

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

Oct 8, 09 6:22 PM CDT
(AP) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on... More »

MORE ABOUT:
Barack Obama • Goldman Sachs • Freedom of Information Act • Citibank • Treasury Department • Barney Frank • Lloyd Blankfein • JPMorgan Chase • Obama administration • Jamie Dimon • President Obama • Timothy Geithner

CIT Bust Would Cost US $2.3B, Earn Goldman $1B

Taxpayers shares could go up in smoke while Goldman gains

Oct 5, 09 4:29 AM CDT
(Newser) - Troubled commercial lender CIT, circling the drain for more than a year, would cost taxpayers $2.3 billion in shares purchased by the Treasury Department if it files for Chapter 11 soon—but Goldman Sachs, which gave the lender emergency funding, stands to collect a $1 billion windfall if it... More »

MORE ABOUT:
Goldman Sachs • bankruptcy • risk management • bailout • Chapter 11 • credit default swap • CIT Group

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