Word: goldmans
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...response to the mortgage crisis, and the plan has drawn fire from two directions. Free-market types say it's a bailout for the irresponsible, while nonprofit groups that work with borrowers fear it won't help many people. Meanwhile, Paulson's past as chief executive of Goldman Sachs--he retired in July 2006 to go to Treasury--is becoming a political issue. Goldman was a big player in the business of packaging subprime mortgages for sale to investors. Now Senate Banking Committee chairman Chris Dodd, who also happens to be running for President, says he wants answers from Paulson...
...professing to see risk of "generalized meltdown of the financial system of a severity and magnitude like we have never observed before." That sounds bad. But even if the damage is restricted to U.S. mortgage markets, a $2 trillion reduction in the supply of loans could still result, estimates Goldman Sachs economist Jan Hatzius...
...Thain’s skills were well suited to maneuver Merrill Lynch out of the sub-prime mortgage crisis that has plagued financial firms across the country in recent months. Thain has gained a reputation as a cordial, perspicacious technocrat who rose to serve as a co-president of Goldman Sachs and revived the ailing New York Stock Exchange. Merril Lynch reported an $8.4 billion loss in securities and bad loans last month. Thain was deeply involved in establishing the then-booming mortgage bond business while he was at Goldman Sachs. “John is an appropriate choice given...
...Rubin, who served as co-chairman of Goldman Sachs before joining President Bill Clinton’s cabinet, praised current Federal Reserve Chairman Benjamin S. Bernanke ’75 in today’s speech. Rubin echoed Bernanke, who has spoken about the U.S. economy’s slowdown...
Rubin, who served as co-chairman of Goldman Sachs before joining President Bill Clinton’s cabinet, praised current Federal Reserve Chairman Benjamin S. Bernanke ’75 in yesterday’s speech. Rubin echoed Bernanke, who has spoken about the U.S. economy’s slowdown...