What are people saying about...
Tue, 05-4-10 - 10:24pm by scarles
Banks Reputation in Question
Goldman Sachs is waging a battle in order to rescue their reputation. On April 18th, Goldman Sachs denied SEC charges that they misled clients by selling them faulty financial instrument by hedge fund firm Paulson & Co. which garnered a profit of 1 billion dollars by betting on the deals downfall.
However, according to Goldman, these deals were not fraudulent due to the fact that all three firms that participated in the deal were savvy.
Due to the debacle Goldman Sachs stock market value was wiped out by $12 billion. One would believe that in this mess jobs at the higher-up would be in jeopardy, not so for Goldman’s chairman and chief executive Lloyd C. Blankfein and president and chief operating officer at the firm Gary D. Cohn. This might be due to the lack of evidence implicating both parties as partakers in the scandal.
Nevertheless, this week Mr. Blankfein and other Goldman executives will be thoroughly questioned by analyst and lawmakers.
According to Bill Still, the producer of money master, “Freedom cannot survive when bankers are in control of the quantity of a nation’s money”. Banks believe they are too big to fail, well let’s make them smaller.
However, according to Goldman, these deals were not fraudulent due to the fact that all three firms that participated in the deal were savvy.
Due to the debacle Goldman Sachs stock market value was wiped out by $12 billion. One would believe that in this mess jobs at the higher-up would be in jeopardy, not so for Goldman’s chairman and chief executive Lloyd C. Blankfein and president and chief operating officer at the firm Gary D. Cohn. This might be due to the lack of evidence implicating both parties as partakers in the scandal.
Nevertheless, this week Mr. Blankfein and other Goldman executives will be thoroughly questioned by analyst and lawmakers.
According to Bill Still, the producer of money master, “Freedom cannot survive when bankers are in control of the quantity of a nation’s money”. Banks believe they are too big to fail, well let’s make them smaller.
Say it!
You read it, now let others know what you think...
|
|
a
Share it.
Know someone else who should read this?
a
Rate it.
Don't be shy, they won't know it was you.
a
Read it.Scroll through more bloids.
|
a
2 ways to invite new friends to canisaysomething.com!
- Send 'em an email invitation
(click here) - Connect to any of your favorite Social Networking sites and your friends!
Step 1: Connect
Step 2: Select your Friends
Select the friends you would like to send a notification to, and click 'ok'
Step 3: Publish this Bloid
Select the friends you would like to publish this bloid, and click 'ok'
