A new city startup promises to eliminate student loans for those who'll share their future income with investors
Winter is coming
Rajat Gupta, a key player in one of the biggest insider trading scandals in memory, helped his business partner/friend Raj Rajaratnam (at right), earned multiple millions of dollars and avoid losses. As a board member for Goldman Sachs, he leaked confidential information repeatedly over a period of ... More >>
For those who have been tracking Occupy Wall Street since its earliest days, yesterday's anniversary often felt familiar to the point of deja vu. Lower Manhattan was once again transformed into a city under siege, with metal barricades at almost every intersection, police trucks, vans, scooters, ho ... More >>
Leaked document reveals the secrets of the GOP's coded language
Barbarians in the Ivory Tower
With Mitt Romney as its de facto go-to candidate, the roster of Restore Our Future, Romney's designated Super PAC slush fund, reads like a laundry list of New York City's wealthiest denizens. And, according to the Center for Responsive Politics and contrary to popular belief, Sup ... More >>
In the battle over gay rights, dissent during wartime isn't always tolerated
As a not-so-hot week for Goldman Sachs' came to a close, Mayor Bloomberg embraced the investment bank. The New York Times reports that Bloomberg visited Goldman's headquarters Thursday for some handshakes and burgers, and explained his support of the firm on his radio show Friday. "It's my job to st ... More >>
Occupy Princeton -- which, yes, it exists -- mic-checked a J.P. Morgan recruiting event on Wednesday and a Goldman Sachs event, above, on Thursday. This is similar to what happened at Harvard recently, though we haven't found a bizarrely pro-Goldman editorial in The Daily Princetonian yet.
Protesters from Occupy Harvard (it exists) tried to disrupt a Goldman Sachs recruiting event on campus. Not particularly unusual or surprising for an Occupy-related group, right? Not so fast. The Harvard Crimson is not impressed, as made clear in a staff editorial in today's issue. It reads in pa ... More >>
Almost as soon as it arrived, the snarky @CondeElevator Twitter account has made its exit. The account, which was allegedly composed of real quotes from inside the elevators at Condé Nast, went dark today with a contrite tweet from whoever's been controlling it:
This morning's New York Post made it a lot easier to set up your office "Who's going to end up owning the Mets once the Wilpons have to repay their Madoff money?" pool, by running a helpful list of rich guys who, it claims, are in the running to buy at least a share of the Amazin's. Less help ... More >>
Facebook, which the Wall Street Journal calls "one of the world's hottest technology companies" (have you heard?), will likely go public this year as its shareholders surpass 500 in number, forcing the company to either disclose its financial information "or go public by April 2012." This com ... More >>
Wanna know what's awesome? The moment Goldman Sachs names you a "partner," a title 100 people will receive this fall. (About 375 of the bank's 35,000 employees are partners.) By bestowing partnership on an employee, the company is essentially whispering in that person's ear, "You will get a m ... More >>
OH HAY GIRL NICE "JEGGINGS" Jeggings: Jeans Leggings. Having never been in a pair, this blogger can not speak with authority on the sturdiness of "jeggings," but our reports from the field tell us these so-called "jeggings" are "A Thing." Our reports have been verified by the fact that the ... More >>
Goldman Sachs has said they will not spend their money on political advertising, showing what the New York Times calls "an unexpected sign of restraint" following a Supreme Court ruling (Citizens United v. Federal Election Commission) stating that on the basis of free speech, corporations can ... More >>
If anyone was wondering whether or not Goldman Sachs would be kinder to the American public after the banking monolith was fined a $500M slap on the wrist and finance reform was put into place, well, wonder no more. Because we have the answer, and it's apparently Hell no.
Lots of hedging from Carolyn Maloney's foe, hedge fund lawyer challenger Reshma Saujani
Faisal Shahzad may have inadvertently saved the jobs of a 1,000 cops in Mayor Mike Bloomberg's budget proposal, but nothing apparently could be done to save the jobs of 6,400 city teachers...Not even letting go of the $5 million dollars budgeted for new teacher recruitment. Yes, that's right ... More >>
Goldman Sachs is shelling out $450,000 to settle with NYSE Euronext and the SEC over allegations that the bank "broke rules governing short sales on U.S. stocks because of a bookkeeping error" -- which led to improperly accepting some-385 short-sale orders from customers and failing to close ... More >>
Here he is, eating something else.Third richest person in the world Warren Buffett spoke in support of Goldman Sachs at a press conference on Sunday, saying that the bank didn't do anything to warrant the public fury that has ensued, and also that things are getting better, ya'll!
If one man could be considered the most important single person to the success of the U.S. economy, there is an argument to be made for mega-billionaire Warren Buffet. (This post is not that argument.) But Buffet chose Saturday to lead the counter-backlash, coming out in favor of the embattle ... More >>
Cher via WikipediaAs a kid, I was really good at math. Then Cher came along. After that, I only cared about hair, navels, and half breeds. So I desperately need some help in understanding the Goldman Sachs mess currently being investigated.
Yeah, kill all the lawyers, but good luck eviscerating McKee Nelson, the law firm that vetted the sneaky scheme by Goldman Sachs to sell America short. It's long gone. It won't be missed — except to answer questions. Some of the 901 pages of documents in the SEC's case against CEO Lloyd Bla ... More >>
• Today is Ulysses S. Grant's 188th birthday. If you're so inclined, head up to Grant's Tomb for a 21-gun salute and ceremony. • Hugh Hefner gave $900,000 to save L.A.'s iconic Hollywood sign. Thank goodness, because how would anyone know where they were otherwise? "The Hollywood sign r ... More >>
Try as he might, Senator Carl Levin can't get a straight answer out of Goldman Sachs during today's hearing of the Senate's Investigations Committee about how Goldman and its CEO, Lloyd Blankfein, bet against America. At least not so far (tune in live here). As the clip above proves, Levin is ... More >>
Goldman Sachs, says Mike Bloomberg, "may not have done anything wrong and may have done everything right." "You've got to wait and give them the benefit of the doubt," says the mayor who rushed to condemn Plaxico Burress, several fire chiefs tied to the Deutsche Bank fire, and pro ... More >>
The Mayor remembers the Titans, at any cost
This case won't be a big deal unless John Paulson (above) becomes a defendant. Don't count on that.The SEC finally accused Goldman Sachs of securities fraud, in a civil suit filed Friday. But this thing sounds a whole lot more dramatic than it really is. For one thing, the name of evil co-conspirato ... More >>
One of the year's biggest corporate-crime blockbusters, and the New York Times publishes it on Christmas Eve, when as few people as possible will read it: In "Banks Bundled Bad Debt, Bet Against It and Won," Gretchen Morgenson and Louise Story reveal how Goldman Sachs (and others) gamed the system, ... More >>
The atmosphere at disgraced financial giant Goldman Sachs seems rather grim this holiday season. In a curious Bloomberg dispatch, Alice Schroeder reports, "senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the ba ... More >>
Knowledge is power! A recent Cyber Ark Software survey reveals a boom in data theft among workers on Wall Street and at Canary Wharf in London. A quarter of respondents professed a willingness to take data from their employers, though 85 percent of them know it's illegal. The survey suggests ... More >>
The half ton of recycled confetti provided to buildings lining the Canyon of Heroes in downtown Manhattan for the Yankees' victory parade yesterday turned out not to be enough for some people to show their enthusiasm. Medical records, financial statements, pay stubs, law firm invoices and cou ... More >>
As part of Mayor Bloomberg's H1N1 flu plan for NYC, the Board of Health has opened vaccination centers this weekend in all five boroughs for middle school and high school students. Elementary school students above four years of age are also eligible for the free shots. Fifty private compani ... More >>
Brother, can you spare $12?
It wasn't your overdue mortgage.
Conde Nast Portfolio sneers at the idea that Goldman Sachs is betting against the solvency of state governments ("The Goldman Munipal Conflict Non-Story Refuses to Die"). It says of a "silly" ProPublica article, "The worst bit about the second article, however, was the headline: 'Goldman Sachs Sells ... More >>
His number remains 666, but we have a new name for the Beast: Legends Hospitality Management (LLC), a facilities management company whose founders include Yankees capo George Steinbrenner and Dallas Cowboys GM Jerry Jones. (They are pictured above, creating a portal to hell by linking their forehoov ... More >>
Andrew Cuomo's threats against major financial institutions are paying off. According to the International Herald Tribune, Merrill Lynch, Goldman Sachs, and Deutsche Bank have settled with state negotiators and will buy back at least $12.5 billion in auction-rate securities and pay $162.5 million in ... More >>
It's not just through wedding photos that we learn that the rich and powerful are just like us: they get foreclosed on as well! You know the Post had to go with the "LIFE'S A BEACH!" headline for its story on how banks are getting ready to foreclose on 120 borrowers in East Hampton and Southampton. ... More >>
Dressed in red amid the blues and grays of Wall Street, union leaders pounded drums and shouted over loudspeakers yesterday to add a voice of dissent among the limos and police protection that lined Front Street in the financial district during Goldman Sachs’ annual shareholders meeting. The Serv ... More >>
This video of protesters greeting Goldman Sachs investment bankers outside of their holiday party may be a week or so old, but the sentiments are timeless. And hearing the lyrics to "Frosty the Goldman" would melt even the coldest heart (unless of course that heart belongs to the bankers who profit ... More >>
First the bankers descended on Battery Park City. Then came another plague for the neighborhood.
Will Any of the Possibilities Really Be Considered?
How Clean Is Amoco's Gas?