Goldman Sachs

Who Is All That Aig Money Really Helping?
March 03, 2009

Two quick AIG thoughts, both of them relating to who it is we're bailing out by propping up AIG. First, as the Times points out in an editorial today, and Josh Marshall has repeatedly observed, one company that clearly had a lot to lose if AIG failed was Goldman Sachs, the former employer of Bush Treasury Secretary Hank Paulson. As the Times writes: The serial A.I.G. bailouts are especially problematic for their connection to the Wall Street bank Goldman Sachs. At the time of the first A.I.G.

OPM Addiction
February 25, 2009

In his first inauguration speech, President Franklin D. Roosevelt observed that the titans of Wall Street “have fled from their high seats in the temple of our civilization”--an apt description for the lashing of Wall Street leaders this month in front of the House Financial Services Committee. Chairman Barney Frank and the members of his committee were less eloquent than FDR in their criticisms of the current Wall Street CEOs, but the point was the same--the public has lost faith in the leadership of our financial community. How have we come full circle over 75 years after FDR?

Is The Sachs Appeal Wearing Off?
November 18, 2008

Given the drilling he’s taken over the last few weeks, Hank Paulson may come to regret his decision to leave Goldman Sachs for the Treasury. But his erstwhile employer may also soon regret sending so many of its top executives to Washington. Grumblings about “Government Sachs” have been echoing ever since Paulson took office. But the latest and potentially most significant backlash came late last week, when Sen.

Defending Sarah
November 05, 2008

It's a beautiful Saturday afternoon in October, and, as Republican Representative Chris Shays drives between churches in his affluent Connecticut district, he is talking about the possibility of being knifed. "Rahm Emanuel--if I got a knife, it would be in my belly," he says, referring to the combative head of the Democratic Caucus. "With Nancy," he continues, alluding to the House speaker, "it would be in my back." He then goes on to tell a story about an encounter that took place two years ago at the House gym.

Celebrating The Bailout Bill's Failure--and Looking Ahead
September 29, 2008

David Cay Johnston, who won a Pulitzer Prize for his innovative coverage of our tax system, retired this year as a investigative reporter for The New York Times.

Who Benefits From The Bailout?
September 26, 2008

David Cay Johnston, who won a Pulitzer Prize for his innovative coverage of our tax system, retired this year as a investigative reporter for The New York Times.

The Devil's Advocate
September 24, 2007

The sleazy lobbyist who might save the world.

What the Boom Forgot
May 03, 2004

IN AN UNCERTAIN WORLD: TOUGH CHOICES FROM WALL STREET TO WASHINGTON By Robert E. Rubin and Jacob Weisberg (Random House, 427 pp., $35) THE CHASTENING: INSIDE THE CRISIS THAT ROCKED THE GLOBAL FINANCIAL SYSTEM AND HUMBLED THE IMF, Revised and Updated By Paul Blustein (PublicAffairs, 435 pp., $18)  THE ROARING NINETIES: A NEW HISTORY OF THE WORLD'S MOST PROSPEROUS DECADE By Joseph E. Stiglitz (W.W.

Street Unwise
February 25, 2002

With ten congressional committees holding hearings on Enron, it's almost impossible for any one member of Congress to distinguish himself on the issue. But that hasn't stopped Senator Jon Corzine from trying. These days the freshman New Jersey Democrat sounds more like Ralph Nader than the former investment-banking pooh-bah he is.

Pages