Investment firm agrees to settle N.Y. pension case
The investment firm founded by Steven L. Rattner, the politically connected financier who went on to lead President Barack Obama’s automobile industry task force, has agreed to pay $12 million to settle allegations that it paid kickbacks to win lucrative business from the New York State pension fund.
Goldman’s Profit Topped Forecast; Share Sale Planned
Six months after accepting a financial lifeline from Washington, a newly profitable Goldman Sachs is pushing to return the billions of taxpayer dollars that it received in an effort to extricate itself from heightened government control.
Shorts (right)
For months, the nation’s largest banks have struggled to regain investors’ trust. In the center of the vortex is Citigroup, whose precipitous stock-market selloff accelerated Thursday, sending shock waves through the financial world.
Subprime Loans Crisis Prompts Global Financial Market Decline
The credit crisis is no longer just a subprime mortgage problem.
FTC Asks Whether Carbon-Offset Money Is Winding Up True Green
Corporations and shoppers in the United States spent more than $54 million last year on carbon offset credits toward tree planting, wind farms, solar plants, and other projects to balance the emissions created by, say, using a laptop computer or flying on a jet.
Young People Forgo MBAs For High-Paying Ventures
Most people who knew Gabriel Hammond at Johns Hopkins in the late 1990s could have predicted he would rise quickly on Wall Street. As a freshman, he traded stocks from his dorm room, making a $1,000 bet on Caterpillar. Soon after, he abandoned his childhood dream of becoming a lawyer and, upon graduation, joined Goldman Sachs as a stock analyst.