World-News

Goldman Sachs set to pay £3.5bn in bonuses

GOLDMAN SACHS, the world's biggest investment bank that is now assailed by accusations of fraud, is poised to reignite controversy over bankers' bonuses by paying its staff more than £3.5 billion for just three months' work.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7100961.ece



A volcanic cloud over Wall Street

The charges against Goldman could have far wider consequences.
http://snipurl.com/vljh1



Now we know the truth: The financial meltdown wasn't a mistake, it was a con

The global financial crisis, it is now clear, was caused not just by the bankers' colossal mismanagement. No, it was due also to the new financial complexity offering up the opportunity for widespread, systemic fraud.

http://www.guardian.co.uk/business/2010/apr/18/goldman-sachs-regulators-civil-charges



Goldman's Travails: Don't Get Your Hopes Up

By Mike Whitney

Screwing people is a "growth industry". And a big organization like Goldman has a reservoir full of snakeoil, so it doesn't have to worry about running-low on reserves. Just stitch-together a bunch of junk securities, dress them up in sequins and gold-lame', dump them off on investors, and rake in big profits when the ship sinks.

http://www.informationclearinghouse.info/article25252.htm



Goldman Sachs: Too Big To Obey The Law

By Simon Johnson

These huge banks will behave better only when and if their executives face credible criminal penalties. This simply cannot happen while these banks are anywhere near their current size.

http://www.informationclearinghouse.info/article25256.htm



The Financial Terrorists Who Destroyed Our Economy Will Pay Zero in Taxes and Get $33 Billion in Refunds

By David DeGraw

You and I are working our a... off, paying 30% of our limited income in taxes. Not the banks that triggered the financial crisis.

http://www.informationclearinghouse.info/article25253.htm



Numerian: The Goldman Sachs Credo - So What if We Lie? It's Nothing Personal, It's Just Business

Reading the SEC allegations against Goldman Sachs and Co., you get the impression the agency would prefer a simple world where you could charge a company with lying and be done with it.

http://snipurl.com/vmgkr



Goldman Sachs: the bank that thought it ruled the world

'Long-term greedy" was the phrase that Sidney Weinberg, Goldman Sachs's legendary managing partner from the 1930s to the 1960s, used to describe the American investment bank's overarching strategy.

http://snipurl.com/vmgla



Under-fire Goldman Sachs reveals 90% jump in profits

Just days after US regulators began a $1bn (£650m) fraud action against the firm, Goldman revealed a leap in quarterly profits from $1.8bn to $3.5bn and disclosed that it was setting aside $5.49bn to pay its employees.

http://www.guardian.co.uk/business/2010/apr/20/goldman-sachs-profits-bonuses


From Information Clearing House

---------

Is the SEC Case Against Goldman Sachs Being Staged for Political Advantage?
http://www.lewrockwell.com/sardi/sardi165.html

Goldman Could Trigger Market Correction
http://www.lewrockwell.com/rogers-j/rogers-j88.1.html

--------

The Fall Of Goldman Sachs?
http://act.commondreams.org/go/280?akid=29.124981.MHAcOz&t=2

--------

Goldman Hires Obama's Ex-White House Counsel to Fight Fraud Charges

Jason Leopold, Truthout: "Wall Street banking behemoth Goldman Sachs, which was charged with securities fraud last Friday over its role in the subprime mortgage meltdown, has hired President Obama's former White House Counsel Greg Craig to defend the company, according to a report published late Monday by Politico."

http://www.truthout.org/goldman-hires-ex-white-house-counsel-defend-bank-against-fraud-charges58716



http://freepage.twoday.net/search?q=Obama
http://freepage.twoday.net/search?q=financial+crisis
http://freepage.twoday.net/search?q=bonus
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=Securities+and+Exchange+Commission
http://freepage.twoday.net/search?q=Goldman+Sachs
http://freepage.twoday.net/search?q=Big+Banks
http://freepage.twoday.net/search?q=Wall+Street
http://freepage.twoday.net/search?q=taxpayer
http://freepage.twoday.net/search?q=com/sardi
http://freepage.twoday.net/search?q=Jim+Rogers
http://freepage.twoday.net/search?q=/rogers-j
http://freepage.twoday.net/search?q=Mike+Whitney
http://freepage.twoday.net/search?q=Simon+Johnson
http://freepage.twoday.net/search?q=David+DeGraw
http://freepage.twoday.net/search?q=Jason+Leopold