One of the major sticking points of the inevitable Wall Street bailout was executive pay — but the New York Times says that Treasury Secretary and former CEO of Goldman Sachs, Henry M. Paulson Jr., has agreed to compensation caps for the executives of firms that benefit from the bailout.
Warren Buffett buys $5 billion in Goldman Sachs stocks, causing a subdued “yay” to rise among investors. Is the contemporary equivalent to J.P. Morgan helping to calm the Panic of 1907 by walking onto New York Stock Exchange and buying bank stocks?
Goldman Sachs and Morgan Stanley will no longer be investment banks, says the New York Times. Instead, they will “transform themselves into bank holding companies subject to far greater regulation.”
Protesters Taunt Goldman Sachs Employees By Singing "Frosty The Goldman" Outside Company Christmas Party
Last week a clutch of protesters sang parodic carols outside the Goldman Sachs Christmas party at the hoity-toity BLVD club to protest the companies involvement with subprime mortgages.