The list of new Goldman Sachs partners is out! The bank tapped 70 new "partnership managing directors." That is a much smaller class compared to the 110 tapped in 2010. Phone calls from Lloyd Blankfein and Gary Cohn letting the bankers know they've made partner should have started around 8:30 a.m.
According to a new study conducted by the U.S. Census Bureau, the average college graduate will earn $2.4 million over his or her lifetime. Engineering majors, the highest-earning major, will earn more than $3.6 million.
Let us not delude ourselves: without growth, the future of the global economy is in jeopardy IMF Managing Director Christine Lagarde issued a blunt warning to the Fund’s 188 member countries today that they were losing momentum in reforming the global financial system. “Let us not delude ourselves: without growth, the future of the global economy is in jeopardy,” she said. “One lesson is clear from history: reducing public debt is incredibly difficult without growth. High debt, in turn, makes it harder to get growth,” she said. She said the global financial system was not much safer than in 2008, when the collapse of Lehman Brothers triggered a global meltdown.
2008 Richard Webb, used under a Creative Commons Attribution-ShareAlike license Mention "unethical business practices" and no doubt Bernie Madoff comes to mind, who bilked investors of $18 billion in a pyramid scheme prosecutors called the largest fraud in U.S. history. But perhaps we should also consider the Fukushima Daiichi nuclear crisis from an ethical standpoint.
This is an outstanding trailer, with several extremely embarrassing clips for the SEC. Runs 2 minutes. Stories from our Madoff archives : Madoff Trustee Sues JPMorgan For $6.4B: "They Were At The Very Center Of Fraud"
BREAKING: Bernard Madoff's Brother Peter To Plead Guilty, Forfeits $143 Billion, Will Serve 10 YearsWSJ , USA Today Bernard Madoff's younger brother, Peter, is expected to plead guilty to criminal charges and has agreed to go to prison for 10 years, in the first admission of wrongdoing by a family member in a multibillion-dollar investment business that turned out to be "just one big lie." The collapse 3½ years ago of Bernard Madoff's Ponzi scheme wiped out the life savings of hundreds of investors, caused losses at funds and banks all over the world, and triggered a criminal investigation that has resulted in the guilty pleas of seven people, including Bernard Madoff. Madoff also agreed to the criminal forfeiture of $143 billion, including all of his real estate and personal property. The $143 billion, representing the amount of money believed to have flowed through the business accounts during the multi-decade Ponzi scheme, is included in the criminal forfeiture agreement, though authorities know that Peter Madoff's assets would never approach that figure .
This is a rush transcript. Copy may not be in its final form. JUAN GONZÁLEZ: JPMorgan Chase CEO Jamie Dimon testified on Capitol Hill Wednesday for the first time since his bank lost up to $3 billion in a risky speculative bet. Dimon apologized for the loss but failed to explain how the money was actually lost. He also continued his voice his opposition to new banking regulations.
With its 272 pages laced with tales of power, politics, secrets and sex – lots of sex – “Les Strauss-Kahn”, a new book examining the steady rise and spectacular fall of one of France's most talked-about couples, Dominique Strauss-Kahn and his wife Anne Sinclair, has got the country’s media in a tizzy. Written by Raphaëlle Bacqué and Ariane Chemin, two of French daily Le Monde's most seasoned journalists, “Les Strauss-Kahn” has been described as an “anti-biography” by Europe1 radio and hailed as “impossible to put down” by daily Le Figaro. In a frank account of Strauss-Kahn’s relationship to power, the book explores how the former IMF chief and one-time presidential hopeful was able to indulge in his extremely risqué, even damning behaviour relatively unchecked until his arrest on May 14, 2011, on charges of attempting to rape a maid at New York’s upscale Sofitel hotel. Although the case was ultimately dismissed, the incident at the Sofitel appeared to be merely the tip of the iceberg.
Looking for an internship? If so, Intellectual Takeout has an opportunity for you. We have plenty of work to do as well as ideas to spread, and we need your help to get it done. If you're interested in an internship with Intellectual Takeout, you likely share our passion and you're excited about the possibility of working for a great cause. That said, you might have a few questions about what "...
Nestled in the diplomatic enclave of the capital city here sits the Leela Palace hotel. This week, its ninth floor has been home to the board of Goldman Sachs .
By Eleanor Bloxham, CEO of The Value Alliance and Corporate Governance Alliance
Goldman Sachs CEO Lloyd Blankfein Caught with its pants down in one public relations fiasco after another, Goldman Sachs hastily pulls its pants up and forges ahead in the only arena that counts, the Big Board.
By Ronald D. Orol , MarketWatch WASHINGTON (MarketWatch) — The Federal Reserve is expected to allow a number of the big U.S. banks to hike dividends to as much as 26% of earnings as part of the latest round of stress test results to be released Thursday afternoon, according to analysts and attorneys.