Word: goldmans
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...accused of causing massive foreclosures, nearly bankrupting our financial system and robbing us all of our retirement savings: Wall Street CEOs. On Wednesday, four top financial executives are scheduled to testify in front of the commission, including Bank of America's recently appointed chief Brian Moynihan, Goldman Sachs' Lloyd Blankfein, JPMorgan's Jamie Dimon and Morgan Stanley's John Mack...
Early on, the majority of people seemed to heap the most blame on barely regulated financial products, like credit-default swaps, which brought down AIG; mortgage brokers and their lax lending standards; and Wall Street bonus checks that rewarded short-term profits over prudent business decisions. Goldman Sachs, too, has come under intense scrutiny since the financial crisis, in part because of its ability to quickly turn around and seemingly profit from the mess...
...those early explanations as being too specific. Some economists have even questioned whether there was a credit crunch. Economic professor René Stulz of Ohio State University, for one, has written papers trying to clear Wall Street pay and credit-default swaps of any blame. Despite recent apologies, Goldman Sachs executives, too, say that they are no more to blame than anyone else in the financial markets. (See high-end homes that won't sell...
Very poor choice. Bernanke and his ilk should be replaced with officials unconnected to Goldman Sachs--a firm that now practically runs the country. Maybe they'll have the interests of the people at heart...
...DAVID GOLDMAN, after winning a five-year custody battle for his 9-year-old son Sean. The child had been living with his deceased mother's family in Brazil when a judge ordered on Dec. 22 that he be returned to his father...