There is no doubt that a suitable scapegoat for the economic meltdown is still being searched for. With Goldman Sachs being raked over the coals, someone who has a bit of influence in the business community thought it necessary to step up for the investment giants, and that someone is none other than Warren Buffett. [...]
Posts Tagged as ‘Goldman Sachs’
May 12, 2010
The Goldman Sachs Circus
Bloomberg reports that after a brutal grilling by the US congressional committee on allegations of fraud, the investment bank seemed to walk away with an increased market value of over $500m! Talk about the adage of “there’s no such thing as bad press.” In fact, Goldman Sachs was alone “among 79 stocks of the Standard [...]
April 27, 2010
The Peanut Gallery is Watching, Waiting
One of the most read, recent articles in the business section of UK newspaper, The Guardian, is by Will Hutton. In his piece, entitled, “Now we know the truth. The financial meltdown wasn’t a mistake – it was a con,” the writer gets down to business and baldly accuses banks of not mis-management, but fraud. [...]
March 10, 2010
Last of the Cowboy Bankers
I’m struck by the newfound transparency that many financial institutions are forced to embrace, since the sub-prime fiasco began. Now, if you’re a businessman or an economics major, or even a very attuned political aficionado, what governments and investment banks and hedge funds do – isn’t a surprise. But, the intricacies of how we got [...]
November 15, 2009
Sage Advice From A Sage
The king of investments and the world’s second richest man, Warren Buffett, has come out of his bunker in Nebraska to offer some surprisingly progressive views on the state of global finance and where we went wrong. In a recent interview with the BBC, and in direct contrast to the Vice Chairman of Goldman Sachs [...]
May 6, 2010
Whipping Boys
Congress has to let the people see a sacrifice, and Goldman Sachs is the latest lamb. Chief executive Lloyd Blankfein and managing director Fabrice Tourre are getting sent in to the coloseum to be roasted by the SEC and Congress for making hundreds of millions off the recession. They are in an implacably difficult situation [...]
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Filed under Banks, Commentary
Tags: allegations, Congress, Fabrice Tourre, Goldman Sachs, investigation, Lloyd Blankfein, recession, SEC