Goldman Sachs Execs Dumped Stock Like Crazy
Goldman Sachs is expected to announce a windfall quarter, thanks no doubt to billions in bailout money, but many people at the firm aren't puffing their chests out. According to the Financial Times, Goldman executives dumped close to $700 million in stock between September 2008 and April 2009 -- after taxpayers came to the rescue.
Goldman Sachs is expected to announce a windfall quarter, thanks no doubt to billions in bailout money, but many people at the firm aren’t puffing their chests out. According to the Financial Times, Goldman executives dumped close to $700 million in stock between September 2008 and April 2009 — after taxpayers came to the rescue.
Rooted in Truth.Financial Times:
Executives at Goldman Sachs sold almost $700m worth of stock following the collapse of Lehman Brothers last September, according to filings with the Securities and Exchange Commission.
Most of the sales occurred during the period in which the investment bank enjoyed the support of $10bn from the troubled asset relief programme.
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