Goldman Shares Up; SEC Announces Settlement
NEW YORK -- Shares of Goldman Sachs Group Inc. (GS) surged after the close of trading as the Securities and Exchange Commission announced it would settle a fraud lawsuit against the investment bank. Earlier Thursday, in the regular trading session, shares of the investment bank rose after the SEC said ...
Obama Is From Mars, Wall Street Is From Venus
Thirty-eight hours after Scott Brown’s smack-upside-the-head victory in the race for Ted Kennedy’s former Senate seat, Barack Obama took the podium in the Diplomatic Reception Room at the White House. Hovering behind him was Paul Volcker, the former Fed chair and (for months, largely ignored) Obama economic adviser; far off ...
AP source: Criminal probe of Goldman under way
WASHINGTON – The U.S. attorney's office in Manhattan is conducting a criminal investigation of Goldman Sachs over mortgage securities deals the big Wall Street firm arranged, a knowledgeable person said Thursday.The person said the probe stems from a criminal referral by the Securities and Exchange Commission. The source spoke on ...
Goldman Sachs CEO Lloyd Blankfein did his best to explain the firm's controversial trades in the mortgage market, but Senator Carl Levin and the other members of the Permanent Subcommittee on Investigations weren't buying it. The issue, laid out in a civil fraud suit by the SEC, is whether Goldman ...
Blankfein Says Firm Doesn’t Need to Disclose Position
Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein told a Senate panel that market-makers have no obligation to tell clients about their own position in a security. Blankfein, responding to questions from Senator Carl Levin, chairman of the Permanent Subcommittee on Investigations, said the nature of the principal business ...
Democrats push bank controls; GOP delays action
WASHINGTON – Undaunted by a Senate setback, Democrats appeared increasingly confident Monday they will be able to take advantage of Americans' anger at Wall Street and push through the most sweeping new controls on financial institutions since the Great Depression.The Senate, in a 57-41 vote, failed to get the 60 ...
Blankfein testimony to deny charges
In testimony before a Senate committee Tuesday, Goldman Sachs CEO Lloyd Blankfein will deny his firm bet against the U.S. housing market and its own clients in 2007 and 2008 – and say that investments in the turbulent housing market were handled appropriately. Goldman faces SEC fraud charges over the ...
Senate probe: Goldman planned to profit from bust
WASHINGTON – Goldman Sachs developed a strategy to profit from the housing meltdown and reaped billions at the expense of clients, a Senate investigation has found.Top Goldman executives misled investors in complex mortgage securities that became toxic, investigators for a Senate panel allege. They point to e-mails and other Goldman ...
A Goldman Sachs Group Inc. director tipped off a hedge-fund billionaire about a $5 billion investment in Goldman by Warren Buffett's Berkshire Hathaway Inc. before a public announcement of the deal at the height of the 2008 financial crisis, a person close to the situation says.The revelation marks a significant ...
The Speech: The Good, The Bad and The Missing
The Good: The president had strong language for backing real derivative reforms. The Bad: Vague language about the "Volcker rule" will not stop Too Big To Fail; but a plan like this (or even one like this) for breaking up the current mega-banks and limiting their liabilities will. The Missing: ...
It's Lloyd's of Washington next week
He wasn't named in the Securities and Exchange Commission's fraud suit against Goldman Sachs, but CEO Lloyd Blankfein nonetheless will find himself on the hot seat about the matter when he goes to Washington to testify before a congressional panel about toxic mortgage securities. Sources tell The Post that Blankfein ...
Goldman Sachs sued by big pension fund over pay
(Reuters) - Goldman Sachs Group Inc was sued on Monday by a large union pension fund that accused the Wall Street investment bank of overpaying its executives.The International Brotherhood of Electric Workers fund filed the lawsuit in Delaware Chancery Court, seeking to recover money for the company on behalf of ...
Goldman board rejects shareholder demands on pay
NEW YORK, March 1 - Goldman Sachs Group Inc's board has rejected several demands from shareholders that it investigate recent compensation awards, recoup excessive compensation and reform pay practices. Wall Street's dominant bank, criticized for paying billions of dollars in bonuses soon after the taxpayer bailout of the industry, reported ...
Goldman Sachs won't investigate executive pay
NEW YORK — Goldman Sachs Group Inc. said Monday it has rejected demands by shareholders to investigate the Wall Street bank's compensation practices.Shareholder lawsuits filed recently in New York and Delaware charge that Goldman's compensation levels in 2009 were too high, Goldman said in a Securities and Exchange Commission filing. ...
In an interview, the US president described the Goldman Sachs CEO as 'savvy'. So how did he and his crew use their wisdom? Last week, when President Obama was asked about the $9m dollar bonus for Goldman Sachs CEO Lloyd Blankfein, he described Blankfein as a savvy businessman, adding that ...
Goldman Sachs CEO Lloyd Blankfein stands to collect $100 million bonus
He's been grilled by Congress and blasted by critics, but the chief executive of Goldman Sachs may soon have $100 million reasons to smile.Lloyd Blankfein, who leads the world's richest investment bank, stands to collect an eye-popping $100 million bonus in defiance of President Obama, according to bankers meeting in ...
I'm doing 'God's work'. Meet Mr Goldman Sachs
Number 85 Broad Street, a dull, rust-coloured office block in lower Manhattan, doesn’t look like a place to stop and stare, and that’s just the way the people who work there like it. The men and women who arrive in the watery dawn sunshine, dressed in Wall Street black, clutching ...
How Goldman secretly bet on the U.S. housing crash
WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Goldman's ...
Day two of the Showdown in Chicago, a three-day-long protest against big banks, began a bit dismally for The Nation. An email from American Bankers Association spokesman John Hall informed us that our press credentials had been revoked. The reason? Because we'd arrived early to cover a protest outside the ...
Protesters Deliver Letter to Goldman Sachs—And Await Response
CHICAGO—After working for 42 years, Erma Hall-Wood thought she had earned a modest but peaceful retirement. Then the financial crisis devastated her savings and the 68-year-old Los Angeles County Department of Health retiree became one of millions of Americans who have lost their homes to foreclosure."I thought I would have ...
Announcing the Goldman Project
Goldman Sachs raked in billions with taxpayer help while you're still unemployed. The bank announced $3.1 billion in third-quarter profits, and set aside $5.3 billion for bonuses. Help us find out how they spend it.Goldman's third-quarter take is down slightly from its record-breaking $3.4 billion second-quarter earnings, and the amount ...
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June 5th, 2013
Here's How We Built a Movie Theater for the People – and Why the MPAA Says It's #1 in the World
This past week, the Motion Picture Association of America (MPAA), the main federation of Hollywood's six major studios, posted on their web site a list of what they believe ...
March 23rd, 2013
This evening is going be a big moment in turning our country around on the issue of gun violence. That's why I desperately want you ...
March 21st, 2013
I am hosting a nationwide series of house parties this Saturday night where tens of thousands of people will gather together in living rooms to ...
March 15th, 2013
The response to my Newtown letter this week has been overwhelming. It is so very clear to everyone that the majority of Americans have had ...
March 13th, 2013
America, You Must Not Look Away (How to Finish Off the NRA)
The year was 1955. Emmett Till was a young African American boy from Chicago visiting relatives in Mississippi. One day Emmett was seen "flirting" with ...
February 26th, 2013
My Final Word on Buzzfeed and Emad Burnat's Detention at LAX
Thanks to everyone for bearing with me as I spend so much time on what happened to Emad Burnat. It's important to me because he's ...
February 26th, 2013
Michael Moore Responds to Buzzfeed Story on '5 Broken Cameras' Co-Director Emad Burnat
On Tuesday, February 19th, Emad Burnat, the Palestianian co-director of the Oscar-nominated documentary '5 Broken Cameras,' was detained with his wife and son at Los ...
September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
'The East'
Why have you started a comedy festival in northern Michigan in the middle of winter?
Because if you were here in the dead of winter in the middle of nowhere (which is actually somewhere to us), you'd need a few laughs too ... Continue Reading
Michael Moore on MSNBC with Michael Eric Dyson, 3/22/13
Michael Moore on Democracy Now!, 6/28/12
Michael Moore on the Rachel Maddow Show, 5/11/12
Michael Moore on MSNBC, Super Tuesday, 3/6/12
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Michael Moore on the Rachel Maddow Show, 2/27/12
