Goldman Sachs opened the phone lines this morning.
In a rare move, the big bank let the public listen in on its first quarter conference call, announcing billion dollar profits just a few days after the S.E.C. stoked public anger by accusing the big bank of selling investments that were designed to fail.
We can’t Read More
In the fall, Goldman Sachs knew that the S.E.C. was looking at its fishy Abacus package, so the big bank had its white shoes over at Sullivan & Cromwell write a lengthy response about why the trade wasn’t really all that interesting. (From Alphaville by way of Felix Salmon.)
The italics Read More
Reuters found the pitch book for the Abacus package that Goldman Sachs is accused of packaging and pawning off on investors without them knowing the complex instrument was built to fail.
It’s mostly written in the language of institutional investing–which kind of underscores Goldman’s point about these being professional investors–and, as you Read More
Goldman Sachs issued its third press release about the S.E.C. suit today–each one a little longer and more defiant than the previous one.
Dealbreaker thinks they’re setting up their young trader, Fabrice Pierre Tourre, to take the fall. Felix Salmon thinks they’re being misleading.
I happened to Read More
Democrats are eager to push their financial reform bill in the wake of the Goldman Sachs suit, without seeming like they’re pushing their financial reform bill in the wake of the Goldman Sachs suit, as The Times mentioned this morning.
Sending the president to New York doesn’t necessarily seem like the most artful Read More
One of the annoying things about this morning’s bombshell Goldman Sachs lawsuit is that it has overshadowed a Goldman piece that would otherwise be the talk of the town.
Late last year, Goldman Sachs began leaving its longtime headquarters at 85 Broad Street, a “spectacularly dull, purposefully frumpy, desperately anonymous tower.” One might Read More