Here's a salacious bombshell: Former Treasury Secretary and ex-Citigroup executive chairman Bob Rubin bragged about cushy corporate jets and how easy his job was during sexy romps with an alleged mistress. During the middle of the financial meltdown, no less.
The embattled CEO of Goldman Sachs had a long day on Capitol Hill yesterday, giving all sorts of non-answers to angry lawmakers and squinting a lot. Afterward, he left a message for his flock of distraught traders: "This is Lloyd..."
Did you think the fact a Senate subcommittee pummeled Goldman Sachs executives on Capitol Hill all day would put off investors? Not so much. Goldman Sachs stock traded up today while the rest of the markets took a nosedive.
By now you've heard the news that investment bank Goldman Sachs is in some hot water with the government. Today, executives from the firm will testify on Capitol Hill. Will there be drama? Here is a quick guide.
Goldman Sachs is facing an SEC lawsuit that names a prominent London-based banker. The British Prime Minister said today he too wants to examine their "moral bankruptcy." They responded by giving their London staff bonuses equivalent to those of 2007.
Embattled hedge-fund manager Steve Cohen's ex-wife has pulled a do-over on her vengeful attempt to ruin him: After withdrawing a lawsuit accusing him of insider trading back in the 1980s, she's filed a new one seeking control of his company.
The Apprentice is looking for horrible people to debase themselves and others on television, and judging by a recent New York City casting call, just the right candidates are showing interest: laid off bankers and Goldman Sachs staffers. [via NYM]
The top 25 hedge fund managers pulled in a total of $25 billion in 2009, according to Absolute Return+Alpha. That's a record. It's good to know that the economy has recovered and we're firing on all cylinders again.
Yes, the private sector axed another 23,000 jobs this month, but don't worry because Wall Street is hiring again! According to Time, 75% of Wall Street firms intend to put new college grads on the payroll this year.
Tax time is fast upon us, so New York's Department of Taxation and Finance has released its list of top delinquent taxpayers. One of them is Frederick Whittemore, a recently retired lifelong bigwig at Morgan Stanley. Taxes are for suckers!
The Way We Live Now: Trying to cover our bad bets. We are seriously bad gamblers. Worse than the average gambler (who is not good, in the first place). There's an upside, though: coke, models, and booze! Cheap booze.
It's bonus season, so we're trying to keep up with how Goldman Sachs employees are spending their taxpayer-financed windfalls. Today's entries: A $6 million penthouse condo, and adding a new floor to the upper-east-side historical landmark in which you live.
The Way We Live Now: Unfulfilled. We can't enjoy our bonus check. We can't scam others. We're finally building casinos when nobody has the money to gamble. Worst of all, we may never know the taste of hot nuts again.
According to Business Insider, Lloyd Blankfein's son Jonathan is about to land a job he totally earned at Goldman Sachs. And we hear that his brother Alex is also on the Goldman Sachs payroll. Bootstraps!
Wall Street is cutting back on cash bonuses, which means paper-rich banksters are forced to choose between preschool tuition and new wine cellars until their restricted shares mature. Goldman Sachs is lending a hand by offering mortgages to its staff.
Treasury Secretary Timothy Geithner is on Capitol Hill today, facing a barrage of camera-friendly and self-righteous (and justified!) bipartisan posturing from members of the House Committee on Oversight and Government Reform over the AIG bailout. It's been testy.
Happy Goldman Sachs Bonus Day! As we mentioned earlier, Goldman announced today that its 2009 bonuses will total $16 billion, spread (very unevenly) among its 32,500 employees. We thought we'd take a look at how they spend our money.
Goldman Sachs announced its 2009 earnings today, and the news is bleak: While the firm took in a record $13 billion profit, it's only paying out a lousy $16 billion in bonuses, the stingiest year-end bump in the firm's history.
Yesterday, JPMorgan's Jamie Dimon and Goldman Sachs' Lloyd Blankfein talked to Congress about why they're sitting on billions of profits and you're broke. CityFile cataloged the many emotions on display.