Loathe to miss out on the chance to dispense some SEC-style justice, the U.K.’s Financial Services Authority today dished out a $27 million fine to Wall Street titan Goldman Sachs. Goldman’s crime? Failure to report this year’s SEC highly publicized if somewhat ineffectual investigation into its 2007 dealings in collateralized debt obligations.
Readers may Read More
As the housing market started to collapse in the middle of 2006, investors became more and more nervous about the smelliest sections of CDOs–collateralized debt obligations that pooled different mortgage bonds together. So what did banks like Merrill Lynch, Citigroup and UBS do? According to ProPublica and NPR‘s big follow-up to the Read More
On a recent drizzly Sunday afternoon, a 29-year-old New York banker was sitting in a West Village cafe, eating biscotti with a mocha cappuccino and a glass of grapefruit juice. “I want to retire early and maybe do something else,” he sighed.
“My premium years were spent working very, very hard because of the Read More
