Last year was a good one for financial titan Goldman Sachs ( GS ). Despite the downtrodden economy, Goldman managed to log a stellar performance, which will yield a record bonus payout of $23 billion to its workers. We certainly helped CEO Lloyd Blankfein and his minions with $52 billion in low-cost government financing. Continue reading How Goldman Made Bank in 2009 How Goldman Made Bank in 2009 originally appeared on DailyFinance on Sat, 02 Jan 2010 11:00:00. Filed Under: Goldman Sachs , American International Group , INC. Permalink | Tweet this! | Comments

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How Goldman Made Bank in 2009

Filed under: Economy A year after Wall Street failures plunged the nation into recession, the House on Friday passed the most ambitious restructuring of financial regulation since the New Deal.The sprawling legislation gives the government new powers to break up companies that threaten the economy, creates a new agency to oversee consumer banking transactions and shines a light into shadow financial markets that have escaped the oversight of regulators. Continue reading The House OK’s a sweeping overhaul of financial regulations The House OK’s a sweeping overhaul of financial regulations originally appeared on DailyFinance on Fri, 11 Dec 2009 15:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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The House OK’s a sweeping overhaul of financial regulations

Filed under: Company News , Columns , Economy , People Roger Ehrenberg is one of the more astute ex-Wall Street guys now blogging. His plan for fixing Wall Street is the clearest I’ve seen. _____________ How Jim Rogers made his first million . _____________ I’m getting a little tired of all the anger towards Goldman Sachs ( GS ). The Atlantic says what the media doesn’t get about GS and AIG ( AIG ). _____________ Continue reading Daily Blogwatch: Why all the anger towards Goldman Sachs? Daily Blogwatch: Why all the anger towards Goldman Sachs? originally appeared on DailyFinance on Tue, 24 Nov 2009 08:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Daily Blogwatch: Why all the anger towards Goldman Sachs?

Main Street is reeling from mounting job losses and a grim outlook by Federal Reserve officials. Wall Street, on the other hand, may be enjoying a sharp rebound. On Tuesday, a report by New York State Comptroller Thomas DiNapoli forecast that the number of vanishing finance jobs may be far lower than anticipated. Job cuts may not exceed 35,000 — close to losses following the relatively minor recession of 2001, and much lower than the 47,000 officials had forecast while preparing New York City’s budget in June. A year ago, many had forecast job losses exceeding 80,000 . Continue reading Wall Street job losses are surprisingly low, and firms eye record profits Wall Street job losses are surprisingly low, and firms eye record profits originally appeared on DailyFinance on Tue, 17 Nov 2009 15:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Wall Street job losses are surprisingly low, and firms eye record profits

Filed under: Company News , Healthcare , Pfizer The pharmaceutical industry has discovered the female libido . German biotech company Boehringer Ingelheim is “putting the finishing touches on a pill designed to reawaken desire by blunting female inhibitions,” according to Bloomberg News, which scientists will discuss next week in Lyon, France. The drug has nothing to do with George Clooney, or getting male spouses to help more around the house. Turns out women’s sex drives are centered in the brain. Who knew? (Not most guys, probably.) Continue reading Viagra meets its match: Sex pills for the female libido are on their way Viagra meets its match: Sex pills for the female libido are on their way originally appeared on DailyFinance on Fri, 13 Nov 2009 12:20:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

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Viagra meets its match: Sex pills for the female libido are on their way

Filed under: Economy We all know that Wall Street’s bad bets nearly brought the financial system to its knees last year. Then U.S. taxpayers footed the bill to bail out Wall Street — taking on obligations potentially as high as $23.7 trillion , leading to a $1.4 trillion federal deficit, and $12 trillion in national debt. To me that’s a kind of reverse-Robin-Hood action. Ironically, a New York City charity called the Robin Hood Foundation, which says it supports 200 poverty-fighting programs, is celebrating Wall Street’s expected $140 billion 2009 bonus windfall. The head of Robin Hood’s response to the upcoming record Wall Street bonuses is “Hell yeah!” reports Bloomberg News . The reason for David Saltzman’s enthusiasm is that Robin Hood claims it gets more than half of its annual $150 million in donations from the employees of investment banks, brokerage firms and hedge funds. Continue reading Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves originally appeared on DailyFinance on Fri, 13 Nov 2009 13:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves

Filed under: Company News , Economy , Earnings , CIT Group , Apple , Citigroup Slipping consumer confidence sent U.S. stocks tumbling Friday, nearly ending a six-month-long sprint that saw major indexes climb steadily and dramatically in the face of recession. The drop, on the last trading day of a wildly volatile October, capped a month of stock-price swings that whipsawed investors as the markets raced between wins and losses in response to positive then negative economic news. Friday’s sell-off was spurred by a disappointing Commerce Department report showing a 0.5 percent drop in consumer spending last month. The bad news was further bolstered by a University of Michigan survey that showed Americans were less optimistic about the economy in October than in the previous month. Stocks reacted dramatically, erasing all gains made Thursday , when markets rallied in response to a strong third-quarter GDP report. Continue reading Another wicked October takes its toll on investor confidence Another wicked October takes its toll on investor confidence originally appeared on DailyFinance on Fri, 30 Oct 2009 16:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Another wicked October takes its toll on investor confidence

Filed under: Economy , Investing , One Year Later Lehman Brothers’ bankruptcy filing on Sept. 15, 2008 set off a nuclear winter that’s still chilling the bones of global finance and commerce a year later. Of course, Lehman’s monumental collapse was just one in a series major financial and economic blows, and while the world may not have ended, it sure is different today. Informed with the perspective gained from time–and hard experience–Daily Finance writers and editors have put together a must-read multifaceted special report covering world’s new landscape. The topics we’ve examined range from how total catastrophe was averted to the still unreformed architecture of Wall Street, from the lessons investors have (and haven’t) learned to where things might go from here. In between, we’ve laid out the impacts on white collar workers, consumers and even celebrities. And don’t miss the gallery of art and design inspired by the meltdown. No matter what your particular interest, in the series of “One Year Later” articles listed below you’re sure to find information and insights you won’t get anywhere else. (Click here or the headline above to see the full list.) One Year Later: To hell and (almost) back? Lessons we (should have) learned from the crash Continue reading Special Report: The financial meltdown, one year later Special Report: The financial meltdown, one year later originally appeared on DailyFinance on Fri, 18 Sep 2009 18:20:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Special Report: The financial meltdown, one year later

Filed under: Investing , Goldman Sachs A year after the markets crashed, Wall Street salaries have recovered nicely, bank stocks have bounced back and the economy is apparently on the rise again. Yet, the investment game is more rigged than ever before. The retail investor has never been at a greater disadvantage — not that retail investors were ever really supposed to win. A quick read of the anti-Wall Street classic Where Are the Customer’s Yachts? tells you pretty much everything you need to know about how brokerages and other Wall Street sharks view customers. But the crash provided cover for developments that are clearly anti-retail investor and have been largely ignored by the authorities charged with enforcing fairness on stock markets. Let us count the ways. Continue reading One Year Later: It’s even worse for small investors One Year Later: It’s even worse for small investors originally appeared on DailyFinance on Mon, 14 Sep 2009 11:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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One Year Later: It’s even worse for small investors

Filed under: Economy The nation’s unemployment rate jumped to 9.7 percent in August, as employers cut 216,000 jobs last month, a new report from the Labor Department showed, signaling that the job market remains volatile despite recent data that show the U.S. economy is recovering. The increase in the unemployment rate to 9.7 percent was higher than analyst expectations at 9.5 percent. In July, the rate fell unexpectedly to 9.4 percent from 9.5 percent in June. In August, the number of Americans looking for work jumped by 466,000 to 14.9 million, the government said Friday. Continue reading Unemployment climbs to 9.7 percent in August Unemployment climbs to 9.7 percent in August originally appeared on DailyFinance on Fri, 04 Sep 2009 09:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Unemployment climbs to 9.7 percent in August