goldman sachs

The sudden bankruptcy of commodities trading firm MF Global has thrust a familiar name in to the spotlight: Jon Corzine.

Previously, Corzine was governor of New Jersey, a U.S. senator and chairman and CEO of the investment firm Goldman Sachs.

Corzine resigned last week as chairman and CEO of MF Global as investigators search for hundreds of millions of dollars missing from clients' accounts.

OAKLAND, Calif. — Occupy Wall Street protesters had just a few hours to celebrate what they saw as their biggest victory so far: the peaceful shutdown of the nation’s fifth-busiest port.

Then the rioting began.

A day after some protesters clashed with riot police, set fires and shattered windows in Oakland, Calif., demonstrators across the country condemned the violence and wondered whether it was a turn that would destroy their cause.

The securities firm run by Jon Corzine, who was formerly the governor of New Jersey and head of Goldman Sachs, is the first American company to fall victim to the European debt crisis.

» E-Mail This     » Add to Del.icio.us

Rajat Gupta, a former board member of Goldman Sachs, is expected to surrender to federal authorities Wednesday.

He faces criminal charges tied to a high-profile insider trading case. For more on the story, Renee Montagne talks with New York Times reporter Azam Ahmed.

» E-Mail This     » Add to Del.icio.us

Warren Buffett has given the country's biggest bank a $5 billion vote of confidence. Bank of America's share price had been sliding.

But Buffett announced Thursday that his conglomerate Berkshire Hathaway is investing $5 billion and will receive 50,000 shares of preferred stock, and now the bank's shares are up about 12 percent.

Three years ago, Buffet helped another bank in crisis when he put $5 billion into the Wall Street firm Goldman Sachs.

The investment bank's profits dropped 21 percent in the first quarter, compared with the same quarter last year.

Its earnings per share took an even bigger hit — down more than 70 percent from last year. That's still better than what Wall Street analysts were expecting.

"We are pleased with the results," Goldman Sachs CEO Lloyd Blankfein said.

Goldman Sachs' stock fell 2.6 percent after the bank reported 53 percent lower earnings in the fourth quarter.

Wells Fargo & Co. also fell 1.9 percent.

» E-Mail This     » Add to Del.icio.us

Goldman Sachs, one of the nation's most profitable banks, announced Tuesday that its second-quarter earnings are down more than 80 percent from last year at this time.

CEO Lloyd Blankfein cited a "difficult market environment." Profits also were hit by a $600 million British tax on executive bonuses, and the company had to pay more than a half-billion dollars to U.S. regulators to settle civil fraud charges relating to its marketing of mortgage securities.

Human error?

Computer error? Greece? Spain? China?

WHAT IN THE HELL IS GOING ON?!?!?!

Wall Street Journal tries to sort out the mess…