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Tag Archives: goldman sachs
What Goldman Really Did Wrong
Unsurprisingly, apologists for Goldman and Wall Street have been coming out of the woodwork in the last few days. Goldman CEO Loyd Blankfein himself was on Charlie Rose last week, arguing that Goldman is a “market maker” – and therefore it’s not a big deal that they were shorting the housing market while simultaneously telling people to buy. He’s actually kind of right… There are a lot of things that Goldman did during the collapse of the housing market that could be construed as immoral, insensitive, or dishonest, but might not be “against the rules”. We may think it’s disgusting, but Goldman does that sort of thing all the time, as does everyone else on Wall Street. It’s called hedging, … More >>
Tagged economic issues committee, economics, financial crisis, financial services reform, goldman sachs
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What All That Money Just Bought Goldman…
Interesting article in the Washington Post – Goldman just gave it’s lobbying team an injection of steroids… a dream team of insiders: As head of its government affairs office, Goldman has installed Michael Paese, a former top aide on the House Financial Services Committee to Chairman Barney Frank (D-Mass.) and more recently an industry lobbyist. (Frank has barred Paese from lobbying his panel for two years, longer than what ethics rules require.) Paese’s team includes Faryar Shirzad, a top adviser to President George W. Bush on economic affairs; Eric Edwards, a former staff director of a House Financial Services subcommittee; Joyce Brayboy, who worked for Rep. Mel Watt (D-N.C.); Joe Wall, aide to former vice president Dick Cheney on legislative matters; Kenneth Connolly, … More >>
