While negotiating a $5 billion investment at the height of the financial crisis, Buffett disappeared for a few hours of personal time.
Goldman Sachs is getting most of the negative headlines. But Wall Street firms across the board say their industry invites scorn. Can they ever change?
A blazing resignation at Goldman Sachs shows us once again that financial advisers too often put their own interests first. Here’s how to make sure you get good advice.
As Wall Street’s biggest banks prepare to report fourth quarter earnings for 2011, many analysts expect the results to cap off a horrible year — at least by their formerly high-flying pre-recession standards. As a result, bonuses, which are tied to performance and typically represent the bulk of bankers’ compensation, are expected to be sharply [...]
Has Goldman Sachs lost its lustre? The Wall Street powerhouse is wrapping up its worst financial performance since 2008, with profits down more than 40% so far this year. As a result, end-of-year bonus payouts are sure to be lower than in the past. Tighter regulatory controls, meanwhile, could crimp Goldman’s ability to rack up the massive trading [...]
When Goldman Sachs can’t make money you know times are tough in the banking business. In mid-September I wrote a feature story for TIME magazine about how our nation’s banks, despite the bailout, were far from fixed, and how that was dragging down the economy. This week’s earnings reports from the big banks are new evidence of [...]
The latest out of Wall Street-land is a warning by analysts that bank profits will show a sharp contraction for the second quarter of 2011. The decline stands in contrast to the widespread perception that banks and investment houses are booming while the rest of the economy is suffering. Or does it?
There was something dramatic and striking about the Dallas Mavericks’ victory over the Miami Heat in the NBA Finals on Sunday. It was the stark contrast of the multimillionaire players of a multi-billion dollar league arousing not the animosity but the passion of millions of fans who are almost certainly not faring as well.
“It’s like watching the emergency room doctors save the life of the drunk driver who just plowed into the car in which your family was riding.”
A funny take from Tom Tomorrow on the idea of selling of “a useless product that will probably blow up” in the faces of consumers who purchase it.
“I think most people in Las Vegas would take offense at having Wall Street compared to Las Vegas. Because in Las Vegas, actually people know that the odds are against them. They play anyway. On Wall Street, they manipulate the odds while you’re playing the game. And I would say that it’s actually much more [...]
