Litton Loan Servicing, Goldman Sachs' little mortgage servicer, may be on the auction block. The Financial Times reports that a buyer approached Goldman about a potential deal, but talks soured over price. But sources also told the FT that Goldman doesn't consider Litton Loan part of its core... MORE >
A former Goldman Sachs programmer who was arrested by the F.B.I. back in 2009 for allegedly copying code from the company's high frequency trading software is now being tried before a jury in New... MORE >
Some of the nation's biggest banks and venture investors have partnered with New York City Investment Fund to create the FinTech Innovation Lab. The program is a annual twelve-week incubator to find and foster promising startups working on financial technologies. Participating banks include all the big boys -- Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Bank of... MORE >
"They better be fucking confident that they're right before they destroy reputations," a major New York hedge fund manager was saying just before midnight on Monday. Attorney General Eric Holder had confirmed an investigation of Wall Street that afternoon, 10 days after The Journal had broken news of a three-year insider-trading probe that "could eclipse the impact on the financial industry of any previous such investigation." In between, the F.B.I. raided two hedge funds... MORE >
"Fabulous" Fabrice Tourre, the Goldman Sachs trader at the center of a fraud case involving Goldman's Abacus collateralized debt obligation, faces an additional complaint from the Securities and Exchange Commission. Bloomberg reports that the SEC is now accusing Tourre of providing Goldman with the more serious charge of "substantial assistance" in snookering investors into buying a CDO made of subprime crap that was doomed to... MORE >
The massive FBI probe into insider trading reported this weekend is already causing major headaches up in Connecticut. The Wall Street Journal is reporting that the FBI is raiding the Connecticut offices of two hedge funds, Level Global and Diamondback Capital Management, along with Boston's Loch Capital Management.... MORE >
An important warning, courtesy John Kinnucan, tech consultant to Wall Street firms: Now that the authorities are reaching a key stage in a three-year, across-the-board investigation into insider trading, a glass of wine on the front porch just got a lot less calmly contemplative for high-powered financiers and their... MORE >
The Feds are wrapping up a three-year project aimed at cracking down on insider trading. Some of the biggest names in finance (Goldman Sachs, SAC, Janus) are being bandied about, as are the following phrases: Criminal and civil; three-year investigation; bankers; hedge funds; analysts. This should be a lot of fun to watch. [WSJ] Ireland has accepted a $100 billion - plus bailout. Greece has also been rescued; will Portugal and Spain be... MORE >
Goldman Sachs has appointed 110 new partners this year. That's the largest swelling of Goldman's partner ranks since 2006 -- certainly a remarkable achievement both for Goldman Sachs and for each individual honoree. But what does the newest class of Goldman partners say about the achievements of... MORE >
"Have you ever noticed," the chairman of Citigroup, Richard D. Parsons, asked The Observer this Monday evening, "that in the NFL, or in the NBA, or in Major League Baseball, this guy was a failure at Cleveland, and then he becomes the coach in Houston? These guys just move around from one team to another. Why is that? Because there isn't a very deep pool of skilled talent that... MORE >
The Federal Reserve would prefer that Goldman Sachs continue paying $15 per second to Warren Buffett rather than tap its capital to repay the Nebraskan billionaire, according to The Wall Street... MORE >
Phil Falcone has a theory about Goldman... MORE >
The Financial Times is reporting that Goldman Sachs has given the boot to Alexandre Harfouche, the firm's head of European Block trading. Citing people familiar with the matter, the FT says Harfouche was let go for "failing to make proper disclosures to the bank's compliance... MORE >
The Financial Industry Regulatory Authority today slapped extremely effective but imperfect trading operation Goldman Sachs with a $650,000 fine for failing to disclose that two of its employees, including "Fabulous" Fab Tourre, were under investigation by the Securities and Exchange... MORE >
Outside of a few elections here and there, the most important thing that happened to the United States of America yesterday was the release of Matt Taibbi's Griftopia, a book-length version of his iconic Goldman-Sachs-as-vampire-squid Rolling Stone extravaganza. (The secret AIG book was big, too.) Mr.... MORE >
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