off the media
You know something has gone terribly wrong when Goldman Sachs is complaining about fair play.
But when it comes to Greg Smith and the “Why I’m Leaving Goldman Sachs” meme started by The New York Times in March, the investment bank has got plenty to gripe about. According to the Times’s own research, almost all Read More
Another day, another leaked passage from Greg Smith’s forthcoming Why I Left Goldman Sachs, and another issuance from 200 West St. on the credibility of Mr. Smith’s claims.
At Bloomberg Television, Erik Schatzker and Stephanie Ruhle followed yesterday’s reporting on the results of Goldman’s internal investigations (bankers like Jim Henson!), with an interview today with Edith Cooper, global head of human capital management at the firm.
Twenty-five years after the Black Monday stock market crash of 1987, the potential for a catastrophic plunge remains, says Bloomberg. The Wall Street Journal looks back at the articles it published on the week of Oct. 19, 1987.
It seems the Times has also seen a “bootleg” copy of Greg Smith’s Why I Left Goldman Sachs, and its take is in line with what we’ve read of the book so far: “Long on Mr. Smith’s reminiscences of the pleasures of the job—handmade suits, sashimi at 30,000 feet, strawberries at Wimbledon—the former Goldman salesman’s book does not break much new ground on illegal or questionable financial practices at the firm.”
It’s been a leaky week leading up to the publication Why I Left Goldman Sachs, with the firm giving guidance on the potential motivations of its former employee, and reporters getting their hands on copies of the embargoed title.
A week ago yesterday, The Financial Times reported on the results of Goldman’s internal investigation into Read More
Naval enthusiast Paul Singer of Elliott Management and secretive Mexican financier David Martinez are still battling in court, according to The New York Times. Mr. Martinez is said to have a $140 million painting by Jackson Pollock in his Time Warner Center apartment, but no one is willing to stake their name on it. Also Read More
Standard Chartered, the British bank that agreed to pay a New York State regulator $340 million to settle charges that it violated U.S. sanctions with Iran, is nearing a settlement with the U.S. Treasury and Manhattan district attorney, according to The New York Times. The anticipated deal will likely cost Standard Chartered less than its settlement with New York’s Department of Financial Services, because the federal and local authorities view the banks actions less severely than did the state regulator.
A Department of Justice probe into the collapse of MF Global is going nowhere fast, according to The Wall Street Journal, which reports that former CEO Jon Corzine met with federal investigators for the first time last week. Meanwhile, sources tell The Journal that it’s looking more unlikely criminal charges will be filed.
“Many people on Main Street distrust Wall Street right now, yet few can put their finger on why,” said Jamie Raab, publisher of Grand Central, according to The Times.Which is an overwrought explanation for giving former Goldman Sachs executive Greg Smith $1.5 million for his book, Why ILeft Goldman Sachs. A simpler reason: People want the dirt.
Goldman Sachs let go 50 employees last week, including a number of managing directors, The New York Times reported this evening. That adds to the 3,000 employees the investment bank has sent packing in the last year, as the firm deals with an industry wide revenue crunch driven by the looming European debt crisis and Read More
Bloomberg View’s take on Goldman Sachs vice president Greg Smith’s New York Times editorial-as-resignation reads like catty note written in Calc class and passed to all the Goldman Sachs employees reading the morning news on, well, their Bloomberg Terminals.
Just about every newspaper has treated yesterday’s editorial as a news story in itself, including other departments of The New York Times. Rival Wall Street Journal covered it from every angle, publishing both the internal memo in which Goldman ceo Lloyd Blankfein responded to its allegations and a parody in the voice of Knicks coach Mike D’Antoni, who also resigned yesterday.
But today’s un-bylined Bloomberg View editorial shows up even the parodies with its derision, synthesizing all the nasty things that cooler banker types said on Twitter yesterday.
Barack Obama’s campaign not only made its candidate a rock star, but it turned a few ordinary people into minor celebrities.
And here’s one.
It’s Greg Smith, a Manhattan doorman who donated $25 to Obama’s campaign and got a pesonal response from the candidate. That got Smith considerable media attention, including an Read More
At a press conference in Brooklyn yesterday, I asked Christine Quinn about the Daily News story saying the City Council improperly funneled money to illegitimate charities using “conduit groups.”
At the time, Quinn said the practice was legal, practical, and ongoing for a number of years.
Quinn also said there Read More