gs

Feds Probe Morgan Stanley

Morgan Stanley weathers investigations into sales of securities, joining Goldman Sachs on the list of Wall Street firms scrutinized by the SEC.

Buffett Could Save Goldman

Questions about whether Goldman Sachs Group chairman and CEO Lloyd Blankfein can stay in his job are mounting. Could Buffett step in?

Buffett on His Goldman Bet: 'I'd Absolutely Do It Again'

At Berkshire Hathaway's annual meeting, DailyFinance asked the Oracle of Omaha if he would make the same decision investing in Goldman Sachs in light of how the bank's reputation has suffered recently. Find out why Buffett says, "It's a great investment."

Goldman's 'Unsure' Defense: Is That the Best It Can Do?

Goldman Sachs reportedly plans to claim it was unsure of the mortgage market's direction in 2006 and 2007. How this boosts its legal case against SEC fraud charges is unclear -- but it certainly signals that clients' interests don't come first for the bank.

Goldman Prepares a More Aggressive Defense

Leaked Goldman Sachs documents show that it will come out swinging against SEC fraud charges. Goldman reportedly plans to claim it was unsure about the mortgage market's direction in 2006 and 2007.

Goldman Director May Have Leaked Buffett Deal

Goldman Sachs Director Rajat Gupta, who has decided not to stand for re-election, is in more trouble. A government probe of Gupta's relationship with Galleon hedge fund manager Raj Rajaratnam has turned up evidence that someone may have leaked Warren Buffett's plan to put $5 billion into Goldman during the financial crisis.

Did Goldman Director Pass Insider Info to Galleon?

The insider trading case against Galleon hedge fund founder Raj Rajaratnam has led investigators to look closely at Rajat Gupta, a Goldman Sachs director. Prosecutors believe Gupta may have shared inside information about the investment bank with Rajaratnam during the depths of the financial crisis.

New Record for Goldman

Goldman Sachs has disclosed that it had 131 trading days last year in which it made at least $100 million in net trading revenue -- a new record for the bank.

Bank Earnings Look Good, but Not for Long

Bank earnings are looking pretty good. Barclays announced that it made over $18 billion in 2009. Goldman Sachs had record profits. JP Morgan results were better than expected. Barclays' numbers were driven by assets it bought from Lehman Bros. and sharp improvements at its investment bank. But results from its retail bank operation were weak. So were numbers from its commercial loans. The bank still faces write-offs of leveraged assets on its books. In short, Barclays faces the same problems as most large American financial firms, which could make for a rocky 2010.

A Big Payday for JPMorgan CEO

Jamie Dimon, the CEO of JPMorgan Chase (JPM), will receive a $15 million to $20 million 2009 pay package -- many analysts had expected he would make much more. But even "modest" compensation packages for Wall Street CEOs will almost certainly still stir trouble among many politicians who claim that banks bailed out with TARP money have no appreciation for taxpayer sacrifices.

Would Chopping Corporate Taxes Pump Up Growth?

The National Association of Manufacturers has a plan to jump-start the economy. It believes corporations pay way too much (about 39.1% on a statutory basis from state and federal sources) to Uncle Sam. That's the second-highest in the industrialized world.

AIG Probe Intensifies

Neil Barofsky has begun the process of reviewing the Fed's role in the AIG bailout.

Wall Street Has Many Things to Be Sorry About -- Just Not Corporate Jets

When JPMorgan Chase CEO Jamie Dimon and Bank of American (BAC) head Brian Moynihan flew today via corporate aircraft to Washington, D.C., to testify before a Congressional panel investigating the financial crisis, their mode of transport raised some eyebrows. But the furor over corporate jets, which are often the most efficient way to transport executives, distracts from the larger issues.

Goldman May Give More to Charity

Facing criticism of high compensation packages and bonuses, Goldman may force its bankers to give a much larger portion of their compensation to charity.

How Goldman Sachs Made Bank in 2009

2009 was a good year for financial titan Goldman Sachs (GS). Despite the downtrodden economy, Goldman managed to log a stellar performance, which will yield a record bonus payout of $23 billion to its workers. We certainly helped CEO Lloyd Blankfein and his greed crusaders with $52 billion in low-cost government financing. And let's not forget that Goldman was a huge beneficiary of ailing insurer American International Group's (AIG) bailout. When the Federal Reserve agreed to pay AIG's counterparties in full, Goldman pocketed a $12.9 billion check -- 100 cents on the dollar -- for its credit default swaps. But a perusal of Goldman's financial statements also reveals that it made big bucks in 2009 by trading commodities, currencies, bonds, and stocks.

Fannie and Freddie CEOs Score Big Paydays

Big firms which got government bailouts and haven't paid back the money are supposed to be subject to pay restrictions. Fannie Mae and Freddie Mac both borrowed tens of billions, and haven't repaid it yet. So how is it that their CEOs will make millions for their work in 2009?

Directors Must Do More To Earn Their Keep These Days

Sitting on a corporate board of directors has always been great work if you can get it, especially if it's with a company that's generous with board member compensation. These days, directors are feeling the heat to get some real work done.