Goldman gets a $550 million dollar fine for misrepresenting tranches of subprime fail as something other than an investment in horse manure, which sounds big in theory, but in practice, it’s only the equivalent of their two-week paycheck: Goldman earned $3.84 billion in the quarter, atop a staggering $12.78 billion in revenues. By that measure, [...]

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A tale of Goldman Sachs and Caddyshacks… Goldman Sachs Group Inc. lost management control of bankrupt Nanso Country Club outside Tokyo after a court accepted a petition by members to remove executives appointed by the Wall Street firm. The Tokyo District Court on July 6 appointed attorney Yuzo Miyama to take over management of Nanso [...]

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Quickie from WSJ Heard on the Street. Lloyd Blankfein’s looking for PR opps: Time for Lloyd Blankfein to surf Oprah’s sofa? Fiona Laffan, Goldman’s media-relations chief in Europe, Middle East and Africa, told a communications-industry event in London that the bank is considering a corporate-branding campaign to improve its battered reputation. Part of the thinking, [...]

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So you remember the Timberwolf CDO, that scatalogical $GS deal Carl Levin made such a stink about back in April? Hilariously, Goldman is now being sued because of it, by a hedge fund that alleges that it collapsed because of it. Good times! The lawyer, Eric Lewis, said Basis Yield Alpha Fund is suing Goldman [...]

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Usually when I’m talking about Thomas Montag (the ex-$GS trader now heading global and i-banking matters at $BAC) I subject you guys to these horrible pictures of Heidi Montag instead because Tom doesn’t seem to have posed for many photos. Maybe now that he’s found his way into OMG TEH GOLDMAN SCANDAL I’ll get some [...]

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