‘Colbert Report’: The SEC Shafts Goldman Sachs

Staff / Truthdig Apr 21, 2010 Stephen Colbert is outraged at the Obama administration's attempt to thwart banks' promotion of risky investments. After all, risky investments are like risky sex, and "if you make the banks wear a condom, they won't be able to feel it when they're f*&#ing us over." Dig deeper ( 1 Min. Read )

Goldman Sachs Posts Big Profits as SEC Suit Awaits

Staff / Truthdig Apr 20, 2010 Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits -- and bestowing bonuses on company execs -- regardless of the state of the global economy, and despite what the bank might have done to damage it in the first place On Tuesday (continued)Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits regardless of the state of the global economy. Dig deeper ( 1 Min. Read )

Goldman’s Shell Game

John Cole, The Scranton Times-Tribune Apr 20, 2010 Dig deeper

SEC Slaps Goldman Sachs With Fraud Suit

Staff / Truthdig Apr 16, 2010 In a move that may signal the beginning of the end of Goldman Sachs' golden era, the Securities and Exchange Commission filed a civil suit Friday against the banking behemoth, accusing the company of selling customers subprime mortgage derivatives (continued)In a move that may signal the beginning of the end of Goldman Sachs' golden era, the Securities and Exchange Commission filed a civil suit Friday against the banking behemoth. Dig deeper ( 1 Min. Read )

SEC Missed Multiple Opportunities to Bust Madoff

Staff / Truthdig Sep 3, 2009 It was a sad case of too little, too late when it came to the Securities and Exchange Commission's readings of Bernie Madoff's now-collapsed house of cards. On Wednesday, the SEC released a report about Madoff's massive financial boondoggle, detailing the many moments in which chances were missed to stop the damage from spreading as far as it did. Dig deeper ( 1 Min. Read )

Letting the Banking Rats Out of the Bag

Robert Scheer / Truthdig Aug 12, 2009 “Was there some sort of ghost that performed these actions?” New York federal Judge Jed S. Rakoff demanded to know Monday in rejecting a deal that would let Bank of America off the hook in yet another banker bonus scandal.The average American is paying for the banking debacle not only in taxes for the bailout but with lost jobs and homes. Dig deeper ( 4 Min. Read )

SEC Fines B of A $33M for Bonus Bust

Staff / Truthdig Aug 4, 2009 It's baffling how $33 million can seem like a relatively small sum lately, but given that it's all that Bank of America will have to pay the SEC for failing to inform investors about the billions in bonuses the bank paid Merrill Lynch executives during B of A's acquisition of Merrill last year, it seems more like a light knuckle-rap than a full-on spanking. Dig deeper ( 1 Min. Read )

Outrage — and Business as Usual

Marie Cocco / Truthdig Jun 9, 2009 The public face of Congress is angry and outraged at all the bad behavior by banks, but in the other Washington, the financial industry continues to have its way. Dig deeper ( 3 Min. Read )

Madoff’s Victims Speak Out

Staff / Truthdig Mar 22, 2009 Some of them have only their homes, while others have no remaining assets and no means to earn income, but all of the former clients of Bernard Madoff (above) whose statements were made public by the government on Friday described in nightmarish terms their experiences since Madoff's fraudulent investment empire crumbled. Dig deeper ( 2 Min. Read )

Jim Cramer’s Stock Market Manipulation Primer

Staff / Truthdig Mar 14, 2009 So, CNBC hyperpundit Jim Cramer was the very picture of contrition during his cringe-tastic appearance on Thursday night's "Daily Show." But let's revisit this moment from 2006 -- when Cramer brought a much haughtier version of himself to TheStreet.com TV to discuss, among other delightful topics, how to "create a new truth to develop a fiction" whilst in "hedge-fund mode" -- shall we? Dig deeper ( 1 Min. Read )

Sex and the SEC

Staff / Truthdig Dec 20, 2008 Turns out that certain employees at the Securities and Exchange Commission weren't just asleep at the wheel, as it were, when they should have been paying more attention to Bernard Madoff's worrisome investment activities. Dig deeper ( 1 Min. Read )

Tough Road Ahead for New Economic Appointees

Staff / Truthdig Dec 19, 2008 On Thursday, President-elect Barack Obama introduced three top financial appointees who will help him with the unenviable task of revamping the government's economic regulatory system and "crack[ing] down on this culture of greed and scheming that has led us to this day of reckoning,” as Obama put it. Dig deeper ( 1 Min. Read )