Goldman Sachs switches support to Romney
Tuesday, October 9, 2012 - 11:22 RICHARD A. BROOKS/AFP/Getty Images Goldman Sachs has long supported Democrats in the presidential contest. But not this year. Why Goldman and other Wall Street banks are throwing their support behind Mitt Romney. Goldman Sachs has long supported Democrats in the presidential contest. Goldman employees gave generously to then-Senator Barack Obama in 2008. But not this time. Goldman, along with the majority of people who work at big Wall Street banks, are backing former Massachusetts Gov. Mitt Romney instead. One big reason? Dodd-Frank. Banks initially opposed the federal government's 2010 regulation of the financial sector. Perhaps even more significant, however, was the sense that Goldman and other highly influential institutions suddenly seemed a little less influential in Washington. Accustomed to members of Congressional Financial Services committees coming in for office visits, and frequent telephone communication, under Obama's White House, communciation ...
Mary Schapiro Stepping Down as SEC Chair
(WASHINGTON) — Mary Schapiro will step down as chairman of the Securities and Exchange Commission next month after a tumultuous tenure in which she helped lead the U.S. government’s regulatory response to the 2008 financial crisis. President Barack Obama designated Elisse Walter, an SEC commissioner, to replace Schapiro. Schapiro will leave Dec. 14, the SEC said Monday. She was appointed by Obama in the midst of the worst financial crisis since the Great Depression. She took over after the agency failed to detect the Bernard Madoff Ponzi scheme. (MORE: Obama Selects Three Financial Regulators) Schapiro is credited with helping reshape the SEC after it was accused of failing to detect reckless investments by many of Wall Street’s largest financial institutions before the crisis. And she led an agency that brought civil charges against the nation’s largest banks. But critics argued that she failed to act aggressively to charge leading individuals at those banks who may have contributed ...
Goldman CEO Blankfein warns 'fiscal cliff' threatens confidence in U.S. economy
Tuesday, October 2, 2012 - 02:00 John Moore/Getty Images Lloyd Blankfein, Chairman and CEO of Goldman Sachs. Marketplace Morning Report for Tuesday, October 2, 2012 Jeremy Hobson: Lloyd Blankfein, the chairman and CEO of Goldman Sachs -- he rarely does interviews, but he decided to take a few minutes to sit down with us. Lloyd Blankfein, welcome to Marketplace. Lloyd Blankfein: Thank you. Hobson: Well, a lot of ordinary Americans are listening to this are going to hear that the head of Goldman Sachs, which for some epitomizes what they don’t like about Wall Street is putting on a conference to help small businesses, and they are going to ask ‘what’s this all about?’ Blankfein: Well, we’ve had this program for a number of years now, called 10,000 Small Businesses, where Goldman Sachs has convened a group of partners to basically give business education to small business owners. Now, these are people who are not going to start small businesses, in many cases these are small business ...
Goldman Sachs sails past Wall Street's expectations
Strength in investment banking helped Goldman Sachs report earnings and revenue that easily topped Wall Street's expectations.
Senior Goldman Sachs Middle East banker resigns: sources
DUBAI - Khaled Eldabag, a senior investment banker at Goldman Sachs Group Inc who handled some of the Wall Street firm's biggest clients in the Middle East, has resigned, two sources familiar with the matter said.
Found 1 month ago on channel Reuters