Banking giants see credit rating downgrade on terrible day for Dow as market plunges 2%

http://www.dailymail.co.uk/news/article-2162994/Banking-giants-credit-rating-downgrade-terrible-day-Dow-market-plunges-2.html By Daily Mail Reporter PUBLISHED: 19:12 EST, 21 June 2012 | UPDATED: 19:12 EST, 21 June 2012 The economy was hit with a double whammy of bad news on Thursday as the stock market plunged on the day that 15 major banks had their credit ratings downgraded. Moody’s cut the ratings of global lenders […]

Former Goldman Sachs director GUILTY of insider trading in largest ever hedge fund fraud case

http://www.dailymail.co.uk/news/article-2159945/Rajat-Gupta-trial-Former-Goldman-Sachs-director-GUILTY-insider-trading-largest-hedge-fund-fraud-case.html By Associated Press PUBLISHED: 12:40 EST, 15 June 2012 | UPDATED: 15:29 EST, 15 June 2012 A former Goldman Sachs director accused of feeding confidential information to a corrupt hedge fund manager has been convicted of conspiracy and three counts of securities fraud. A jury acquitted Rajat Gupta on two other securities fraud counts. […]

Goldman Sachs exec ‘caught on tape leaking secrets about Apple and Intel’ to hedge fund owner convicted of insider trading

http://www.dailymail.co.uk/news/article-2116393/Goldman-Sachs-exec-caught-tape-leaking-secrets-Apple-Intel-hedge-fund-owner-convicted-insider-trading.html Goldman Sachs worker caught on wiretap leaking secrets about Apple and Intel to Raj Rajaratnam By Reuters Reporter PUBLISHED: 14:15 EST, 17 March 2012 | UPDATED: 14:15 EST, 17 March 2012 A person at Goldman Sachs Group Inc, who has not been identified or charged in a broad U.S. insider-trading probe, was caught on […]

Op-Ed Cost Goldman Sachs $2.15 Billion Yesterday

http://www.theatlanticwire.com/business/2012/03/op-ed-cost-goldman-sachs-215-billion-yesterday/49925/ Reuters Alexander Abad-Santos 1,747 Views 8:54 AM ET Greg Smith’s unflattering glimpse into Goldman Sachs’ corrupt culture triggered a financial blow to the firm Wednesday, as the company lost $2.15 billion of its market value, making Smith’s 1,283-word op-ed worth a whopping $1.675 million per word. Goldman Sachs, as Bloomberg reports, saw it shares drop 3.4 […]

‘It makes me ill how people talk about ripping clients off’: Goldman Sachs executive quits over firm’s ‘toxic’ culture in extraordinary resignation letter

http://www.dailymail.co.uk/news/article-2114829/Greg-Smith-resignation-letter-Goldman-Sachs-exec-quits-firms-toxic-culture.html Executive director Greg Smith quits in open letter in the New York Times Firm ‘more interested in making money than the clients’ interests’ Claims colleagues called clients ‘muppets’ and talked of ‘ripping eyeballs out’ By Lydia Warren PUBLISHED: 07:06 EST, 14 March 2012 | UPDATED: 09:55 EST, 14 March 2012 A Goldman Sachs executive […]

How Wall Street Turned a Crisis Into a Cartel: William D. Cohan

http://www.bloomberg.com/news/2012-01-09/cohan-how-wall-street-turned-a-crisis-into-a-cartel.html By William D. Cohan Jan 8, 2012 7:00 PM ET Almost 65 years ago, in 1947, the U.S. government sued 17 leading Wall Street investment banks, charging them with effectively colluding in violation of antitrust laws. In its complaint — which was front-page news at the time – — the Justice Department alleged that […]

MF Global sold assets to Goldman before collapse: sources

http://www.reuters.com/article/2012/01/04/us-mfglobal-goldman-idUSTRE80301V20120104?feedType=RSS&feedName=businessNews&rpc=23&sp=true By Lauren Tara LaCapra and Matthew Goldstein Tue Jan 3, 2012 7:23pm EST (Reuters) – MF Global unloaded hundreds of millions of dollars’ worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions. But it did not […]

Crackdown on small firms, a blind eye for big business

http://www.independent.co.uk/news/uk/home-news/crackdown-on-small-firms-a-blind-eye-for-big-business-6284205.html Tax officials accused of double standards as new drive follows let-off for Goldman Sachs Oliver Wright Tuesday 03 January 2012   The tax office faced accusations of double standards last nightover plans to target thousands of small businesses with spot checkson their paperwork – despite letting big companies such as GoldmanSachs off millions of […]