Lloyd Blankfein admits Goldman Sachs failed to raise the alarm
Bank’s boss tells Senate its derivatives deals fuelled image of Wall Street out of control
The head of Goldman Sachs, Lloyd Blankfein, will admit to Congress tomorrow that his bank failed to raise the alarm about excesses in the mortgage industry and got involved in “overly complex” derivatives deals that fuelled perceptions of Wall Street running [...]
Bankers’ bonuses: The (small) change we need
‘Twas the night before bonus season, when all through the White House many an adviser was stirring with the fierce urgency of acting now.
Later today JP Morgan will be the first big Wall Street bank to announce exactly how much its masters of the universe will receive in bonuses for simply doing their jobs. No [...]
