Goldman Sachs Archives - Page 2 of 3 - Americans for Financial Reform

AFR in the News: Politicians In Washington Are Reading Greg Smith’s Letter Too

“Echoing Volcker himself, Americans for Financial Reform said the rule is aimed ‘precisely’ at the problems Smith alleges, and should provide fighting power from a lobby movement to soften the rule. ‘It is crucial that regulators are not intimidated or overwhelmed by this well-funded effort, but instead move ahead to implement the Volcker Rule that Congress intended – a strong rule that truly changes the toxic culture of proprietary trading,’ the group said in a statement. ‘Smith’s statement today, along with the mountains of evidence from the financial crisis, demonstrates yet again how much we need a Volcker Rule that works.’”

AFR in the News: Reform groups use Goldman critique to push for tougher rules

“Advocates for tough implementation of financial reform are saying that a head-turning op-ed from a former employee of Goldman Sachs proves the need for strict rules on the financial sector. In a blistering piece published Wednesday by The New York Times, Greg Smith announced his resignation as an executive director at the firm, while offering a lengthy takedown of what it has become. He argued that under current leadership, Goldman had placed its own profit-hunting ahead of the well-being of its clients, who he said were called ‘muppets’ behind closed doors. …Americans for Financial Reform issued a statement saying Smith had ‘laid bare’ problems that ‘remain pervasive at our largest banks.’ The proper prescription? Tough implementation of the ‘Volcker Rule.’”

Wall Street Influence, By the Numbers

$1.4 MILLION…The amount that the finance industry is spending every day to influence Congress. $600 MILLION…The amount that the six big banks and their trade associations have spent on lobbying, trade association activity, and political contributions since the first major federal bailout of Bear Sterns in March

Boston Tells Goldman Sachs: We Want Our Government Back!

Consumers and advocates rallied in Boston today in front of Goldman Sachs on the day of the company’s annual shareholder meeting to send a message loud and clear: we want financial reform now. A variety of groups were represented in the crowd, including Jobs with

Community Activists Offer to Sell Goldman Sachs the Brooklyn Bridge

Advocates Take a Page Out of Goldman’s Own Playbook, Offer to Sell Them the Brooklyn Bridge Community activists rallied at the worldwide headquarters of Goldman Sachs, who last week were sued by the SEC for civil fraud, and displayed a banner of the famous N.Y.

Advocates Take A Page Out Of Goldman’s Own Playbook, Offer To Sell Them The Brooklyn Bridge

Press Advisory April 20, 2010 New York, NY – Community activists will rally at the worldwide headquarters of Goldman Sachs, who last week were sued by the SEC for civil fraud, and display a banner of the famous N.Y. bridge as they replicate the unscrupulous

BanksterUSA: Goldman Accused of Cutting the Brakes

BanksterUSA.org’s Mary Bottari has posted a new blog entry about Goldman Sachs and the recent civil fraud charges filed by the SEC. She says: One of the most salient analogies of the financial meltdown was offered by Financial Crisis Inquiry Commission chair Phil Angelides when

AFR Response to the S.E.C. Charging Goldman Sachs with Fraud

For Immediate Release April 16, 2010 Washington, DC – Americans for Financial Reform issued the following statement regarding the S.E.C. suit accusing Goldman Sachs of fraud on mortgage deals. Heather Booth, Director, Americans for Financial Reform: “The SEC investigation into Goldman Sachs is a major event

Mary Bottari: Goldman Accused of Rigging “Robin Hood Tax” Vote

Mary Bottari of BanksterUSA.org dissects Goldman Sachs’ actions in this column on the Huffington Post. Here is an excerpt: It’s really unbelievable. The way that Goldman Sachs keeps sticking its foot in it is simply unbelievable. Let’s not review their unbelievable bonus pool or their

Wall Street bonuses could fund an economic recovery for millions of Americans

Despite unleashing havoc on the global economy, Wall Street is on track to pay out an all-time record in bonuses and compensation this year. The nation’s six largest banks alone – Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Morgan Stanley –