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...Blankfein even seemed to show some support for a consumer financial-product regulator, saying he thought there should be more attention paid to how financial markets interact with the retail market. But when it comes to more restrictions on the way large Wall Street firms like Goldman do business, Blankfein said there were already too many constraints. He said that since his firm began to be regulated by the Federal Reserve and not the Securities and Exchange Commission - a switch that happened when Goldman became a bank-holding company in late 2008 - the oversight of his firm had increased...
...forcing banks and other employees to hold on to products they were selling would cause conflicts of interest and limit their ability to do business. Instead, the executives said they instituted so-called clawback provisions, which allow banks to reclaim compensation from bankers who sell products that cause the firm losses down the road. Because of time constraints, the executives were asked to respond to the panel in writing whether clawback provisions have ever been used...
...China and Vietnam, in particular, nationalist netizens have pressured their governments to remain firm on issues of sovereignty. Both sides have dredged up archival evidence supposedly linking these clusters of uninhabited rocks in the sea to the glories of ancient dynasties and Emperors. For Hanoi, the matter has become especially sensitive as an array of dissidents - from Buddhist monks to activists protesting bauxite-mining - have taken up the cause of the archipelagoes, accusing the ruling Communist Party of selling out to China with every act of acquiescence. "The Vietnamese leadership is burning a candle on both ends," says Thayer. "They...
...Federal Government. And it's a fraction of what Goldman has been making in the market at a time when the government is spending trillions to support asset prices. In the third quarter alone, Goldman raked in nearly $100 million a day in trading profits. In all, the firm is expected to have earned $12 billion...
What's more, Goldman executives are already big donors, and that hasn't done anything to stop its slide in public opinion. Under the firm's voluntary-giving plan, which was started just before the firm handed out bonuses two years ago, Goldman's top executives gave about $130 million to charity in 2008. Goldman's own foundation, which it funds with corporate profits, has about $200 million in it, making it one of the largest charity trusts in corporate America. Indeed, a plan announced a few months ago by Goldman to give away $500 million to promote loans...