Goldman Sachs

1:07am

Fri August 9, 2013
Planet Money

Tourre Juror: 'We Saw Goldman As The Bigger Problem'

Originally published on Fri August 9, 2013 10:06 am

Fabrice Tourre, outside the courtroom. "We didn't feel any malice toward him," one of the jurors said.
Richard Drew AP

Beth Glover was a juror on the trial of former Goldman Sachs trader Fabrice Tourre. When the lawyers were discussing the mortgages tied to the securities at the center of the case, Glover realized that, for all intents and purposes, they were talking about her mortgage.

"When they were looking at the subprime mortgage groupings, I think I would have been in one of those," Glover told me. "I didn't have as great as FICO score at that time."

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2:21pm

Thu August 1, 2013
The Two-Way

Former Goldman Trader Found Liable For Billion-Dollar Fraud

Originally published on Thu August 1, 2013 2:59 pm

Former Goldman Sachs trader Fabrice Tourre walks to a federal court in Manhattan with his attorneys Thursday. A jury found Tourre liable in a massive securities fraud case.
Richard Drew AP

A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.

Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.

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2:42am

Wed July 17, 2013
Business

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 3:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

1:28am

Tue June 4, 2013
Author Interviews

Book Explores Downfall Of An Indian-American Business Icon

Originally published on Tue June 4, 2013 6:10 am

Rajat Gupta, former Goldman Sachs director and former senior partner at McKinsey & Co., was sentenced to two years in prison for leaking inside information to hedge fund manager Raj Rajaratnam.
Spencer Platt Getty Images

Rajat Gupta was one of the wealthiest and most successful men in America and an icon of the Indian-American community. Today, he faces two years in prison for insider trading, convicted of passing corporate secrets to his billionaire friend and Galleon Group founder Raj Rajaratnam.

Gupta was already a wealthy man; what was the motive for his crime? In The Billionaire's Apprentice:The Rise of the Indian-American Elite and the Fall of the Galleon Hedge Fund, journalist Anita Raghavan tries to answer that question.

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12:47pm

Mon March 25, 2013
The Two-Way

Goldman Cuts BlackBerry Rating After Stalled Smartphone Launch

Originally published on Mon March 25, 2013 1:06 pm

BlackBerry's Z10: "Disappointing" launch.
Kevork Djansezian Getty Images

Goldman Sachs on Monday downgraded BlackBerry after a disappointing launch for the company's new smartphone, the Z10.

The Wall Street Journal reports that Goldman slashed its investment rating on the Canada-based company — formerly known as Research in Motion, or RIM — to neutral from buy, citing weak support for the new product.

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