Yahoo Working On Two Deals Worth $150-$200 Million. The 10 Richest People In The World. Partner Day At Goldman. 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. ET, according to Reuters. The Highest (and Lowest) Paying College Majors.
According to a new study conducted by the U.S.
IMF warns Lehman Bros meltdown could happen again. 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.
In Europe, the IMF wants to see more progress toward promised reforms that would create a tighter fiscal and banking union. In the United States, the IMF has sounded the alarm over the “fiscal cliff” of automatic spending cuts and tax increases that take effect early next year unless Congress acts. . © Thomson Reuters 2012. IMF: Greece Will Need A Third Bailout. In an interview with the WSJ's Costas Paris, IMF alternate executive director Thanos Catsambas said that Greece will need a third bailout.
Catsambas called the possibility of Greece meeting funding requirements in coming years by itself "totally unrealistic. " More from the WSJ report: Troika representatives are currently in Athens to assess Greece's situation and the possible disbursement of a €31 billion ($39.99 billion) loan, part of a second bailout package that totaled €173 billion. The payment is imperative for the Greek government to avoid running out of cash, but officials now suggest they don't expect a final decision on how to proceed with Greece until November. Ben Bernanke As A Child. Michael Zacka: Environmental Ethics: Bernie Madoff's Pyramid Scheme Is an Important Lesson. 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. An independent fact-finding commission convened by the Japanese government called the 2011 meltdowns "a preventable disaster" that involved "government-industry collusion. " Chasing Bernie Madoff: Film Trailer For New Documentary Starring Harry Markopolos And The Incredibly Inept SEC. 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 Years. JPMorgan Chase CEO Gets Warm Hill Welcome From Senators Flooded With Millions in Wall St. Donations. This is a rush transcript.
Copy may not be in its final form. ‘The Strauss-Kahns’: a tale of sex, secrets and politics - FRANCE. Lloyd Blankfein Courtroom Sketch. Goldman Sachs' chief executive Lloyd Blankfein, who is also a lawyer, seems to have a lot of experience in court.
He took the stand yesterday during the insider trading trial of Rajat Gupta, a former board member at the investment bank accused of allegedly passing secrets he learned to Raj Rajaratnam. Andrew Ross Sorkin Is Out With His List Of Questions For Jamie Dimon. We've seen Congressional Banking Committee meetings before, and to put it gently — while they have their moments — they're not always the most hard-hitting, productive affairs in Washington.
That said, we're certain JP Morgan CEO Jamie Dimon is not looking forward to his time in the hot seat. He will testify before the House and Senate Banking Committees on Capitol Hill next week to answer for the complicated and stunning trading loss his bank's London Chief Investment Office revealed last month. Obama Empowers Jeffery Immelt as the Ultimate Crony Capitalist. An American influx at glamour fest. Goldman commodities crown slips as traders exit. LONDON (Reuters) - At least 20 commodities traders, several senior, have left Goldman Sachs (GS.N) in the past months, dealing a blow to Wall Street's long-time king of commodities as talent moves to better paying trading houses and hedge funds.
The departures, according to around a dozen insiders and trading sources, mirror the exodus of traders from rival banks over the past two years. The outflow is driven by shrinking profits and tighter regulation of banking, which gives funds and trading houses greater scope to trade and to reward success. Goldman's Passage to India. 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 . This is the first time the firm’s directors have gathered in India and one of only a handful of times they have met outside of the United States. This meeting is viewed as a nod to India’s growing importance, both to Goldman and to the American economy. Goldman and other banks are increasingly looking overseas for business to offset a slowdown at home. Also this week, leaders from Brazil, Russia, India, China and South Africa are meeting here for their 2012 summit meeting. Goldman directors are required a key card to enter their meeting area, but hotel staff also let visitors up without one.
Goldman board deal: Great for Blankfein, no one else. By Eleanor Bloxham, CEO of The Value Alliance and Corporate Governance Alliance Goldman Sachs CEO Lloyd Blankfein FORTUNE -- Deal making runs deep in the veins of Goldman Sachs -- and they are good at it. Anyone Left To Beat On Goldman Sachs? Stress-tested banks set to hike dividends. Top bank investors earn millions in dividends Shuttered LPS unit hit with criminal charges. Big Bank CEOs Walk Away With Big Bucks in 2011.
Lloyd Blankfein: From Humble Beginnings to CEO of Goldman Sachs. Born in New York City, the man who would one day lead Goldman Sachs sold concessions at Yankee Stadium as a boy. Bankers are the victims of their own inflated pay. Children 'dumped in streets by Greek parents who can't afford them' Jamie dimon: Latest News, Videos, Photos. Retired Banker Takes Big Loss on State Parkway Condo - Deal Estate - December 2011.
Finance, not protest is taming the banks - Business Analysis & Features - Business. Analysts predict a volatile market, moderate improvement in stocks for 2012.