Small wonder Goldman Sachs refers to the White House as their “ D.C. office”
Goldman Sachs Group Inc. is in trouble again. Still reading? If you are, you must be a Goldman employee, regulator, class-action lawyer, financial journalist or trolling the Internet for news about Steve Jobs. (See how I dropped the name to make this column more Google-friendly?)
No one seems to care much about Goldman's latest troubles, and many Americans seem numb to more allegations of wrongdoing related to the financial crisis. Yet they keep coming, especially at Goldman.
One of the biggest was last week's disclosure that the Commodity Futures Trading Commission's staff has "orally advised" the company that it "intends to recommend ... aiding and abetting, civil fraud and supervision-related charges" against the trade-clearing unit at Goldman.
In addition, Goldman said the Justice Dept is reviewing data related to credit-default swaps and fee arrangements for clearing of credit-default swaps, including potential anticompetitive practices. European regulators are also investigating.
And remember Abacus? That's the collateralized debt obligation created by Goldman that morphed into a $550M fraud settlement. There are more subpoenas on that gem, Goldman said last week. Goldman declined to comment beyond the disclosures it made in its quarterly report and didn't offer any additional comment Wednesday. (Excerpt) Read more at online.wsj.com ...