The Senate’s semi-spectacular Goldman Sachs hearings yesterday were a distinctly hard thing to write about.
In my case, the biggest challenge was that The Observer goes to the printer at 8 p.m., which means I had to file my story before the hearings had crawled to the finish line. And not only were there Read More
After his late night testifying at the tail end of that 10-hour Senate hearing, Goldman Sachs C.E.O. Lloyd Blankfein stuck around to give a few minutes to each of the networks.
Asked whether the Senate panel–which delighted in describing the deals as “shitty,” as noted by our own Max Abelson in this morning’s Read More
Bill Clinton isn’t so sure about the S.E.C.’s case against Goldman Sachs.
“I’m not at all sure they violated the law,” Mr. Clinton said at a financial summit. “But I do believe there was no underlying merit to the transaction.”
“I think that too much of this stuff has no economic purpose no matter who Read More
Birds were chirping and the sky over Washington was the color of blueberry taffy before Tuesday’s long-awaited Goldman Sachs hearing.
It was a pretty, harmless morning. The first floor of the Dirksen Senate office building was quiet while rows of reporters set up. A handsome couple from the Financial Times kept an upside-down bottle of Read More
As of this writing, Lloyd Blankfein is still on the stand (well, at a table, really).
The first panel–featuring Fabulous Fab Tourre–didn’t even get a recess until after 3 p.m., so even though Panel Two was mercifully short, Mr. Blankfein is now working late deflecting questions about his bank’s position in the Read More
The Goldman Sachs hearing is still going. It’s after 3 p.m., the senators are still hammering the first panel, and The Observer‘s own Max Abelson hasn’t eaten lunch.
Max will have a full report in tomorrow’s paper, but so far, it’s been reasonably entertaining, if not all that illuminating. Senators from both Read More
Business Insider read the unedited version of Goldman trader Fabrice Tourre’s infamous emails, and–surprise–they’re not quite as damning as the one-line excerpts.
This could be a problem for the S.E.C.
In 2008, federal prosecutors in New York’s Eastern District built a case against two Bear Stearns traders that looked pretty good Read More
Has it really been just one week since the S.E.C. sued Goldman Sachs? Fabrice “Fabulous Fab” Tourre is already an essential part of the life of New York, but we didn’t know his name last Thursday. That’s because, aside from the actual accusations in the government’s suit, the most spectacular thing about the scandal Read More
After the S.E.C. sued Goldman Sachs for fraud late last week—alleging that the firm covered up the billionaire John Paulson’s role in hand-picking purposefully putrid mortgage securities, which were sold off to Goldman’s clients—the cry for blood was nearly unanimous. Meet five contrarians.
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Bloomberg News is hearing that Fabrice Tourre–the trader at the center of the fraud complaint against Goldman Sachs–will testify before a Senate committee next week.
Presumably, the idea is to show Mr. Tourre and the bank have nothing to hide. The speculation is that Mr. Tourre will try out the line that he Read More