The former U.S. Treasury secretary whose bailout policies continue to ensure economic recovery works only for the richest Americans will join private equity firm Warburg Pincus in March as president and managing director.
Goldman Sachs has announced its intention to invest $9.6 million in a prisoner rehabilitation program at New York City’s notorious Rikers Island jail in a move that could net the company a $2.1 million return.
We’re guessing that outgoing Goldman Sachs executive director Greg Smith’s last day on the job Wednesday was pretty awkward, given what he had to say about his employer in a scorching Op-Ed article printed in The New York Times for the occasion.
Rarely do we get to hear criticism of the American oligarchy from within the ranks of its crowning institution: the financial services industry. This anonymous author, who handles investments for the wealthiest 1 percent of Americans, takes us on a brief tour of numbers ... (more)
Don’t mistake the claims of relative unimportance coming from the big shots on Wall Street before an audience of federal regulators over the past several months for some sort of newfound humility. (more)