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By admin, May 7, 2010 10:57 am

It's only when clients ask for financial advice that banks owe a fiduciary duty to them -- and these activities contribute just a tiny portion of banks' revenue.

Continue reading Wall Street Acting in Clients' Best Interests? Forget About It

Wall Street Acting in Clients' Best Interests? Forget About It originally appeared on DailyFinance on Fri, 07 May 2010 11:57:00.

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By admin, May 1, 2010 9:45 am

At Berkshire Hathaway's annual meeting, DailyFinance asked Warren Buffett if he would make the same decision now to invest in Goldman Sachs, seeing how the bank's reputation has suffered since he ponied up $5 billion in 2008. Find out why he says: "It's a great investment."

Continue reading Buffett on His Goldman Investment: "I'd Absolutely Do It Again"

Buffett on His Goldman Investment: "I'd Absolutely Do It Again" originally appeared on DailyFinance on Sat, 01 May 2010 10:45:00.

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By admin, April 30, 2010 5:45 pm

As news of the SEC's filing of civil fraud charges against Goldman Sachs surfaced, the meter was already running on the legal bills. By the time this is all over, the bills from the lawyers helping defend Goldman's actions could soar to over $100 million. In the last decade, accounting firms KPMG and Arthur Andersen each spent $50 million fighting federal charges. Given the stakes, the Goldman case could cost double that.

Continue reading Goldman Sachs Legal Bills Could Top $100 Million

Goldman Sachs Legal Bills Could Top $100 Million originally appeared on DailyFinance on Fri, 30 Apr 2010 18:45:00.

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By admin, April 29, 2010 7:30 pm

Berkshire Hathaway's annual meeting will be held on May 1. Here are 10 questions attendees should ask Warren Buffett -- ranging from the financial reform bill to his Goldman deal and who the famed investor favors to succeed him at Berkshire.

Continue reading From Financial Reform to Goldman, 10 Questions for Warren Buffett

From Financial Reform to Goldman, 10 Questions for Warren Buffett originally appeared on DailyFinance on Thu, 29 Apr 2010 20:30:00.

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By admin, April 29, 2010 7:00 pm

Federal prosecutors are conducting a criminal investigation into whether Goldman Sachs or its employees committed securities fraud in connection with mortgage trading, The Wall Street Journal reports. The Manhattan U.S. Attorney's Office is heading the preliminary investigation.

Continue reading WSJ: Federal Criminal Probe Looks Into Goldman Trading

WSJ: Federal Criminal Probe Looks Into Goldman Trading originally appeared on DailyFinance on Thu, 29 Apr 2010 20:00:00.

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By admin, April 28, 2010 7:30 am

Some of the best reads for investors from around the Web, including what young people should learn from the pitfalls of Goldman's Fabrice Tourre, which stocks did well in the Great Recession and whether the market rebound is just beginning.

Continue reading Daily Blogwatch: Lessons from Goldman Sachs

Daily Blogwatch: Lessons from Goldman Sachs originally appeared on DailyFinance on Wed, 28 Apr 2010 08:30:00.

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By admin, April 27, 2010 6:30 pm

Goldman CEO Lloyd Blankfein was defiant in his appearance before a Senate subcommittee that's probing the firm's disclosures to clients on the other side of Goldman's lucrative trades. Where senators saw gambling for huge profits, Blankfein saw prudent hedging against risk.

Continue reading Blankfein and Levin Spar Over Goldman Sachs's Market Maker Role

Blankfein and Levin Spar Over Goldman Sachs's Market Maker Role originally appeared on DailyFinance on Tue, 27 Apr 2010 19:30:00.

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By admin, April 27, 2010 12:45 pm

For a star witness, Fabrice "the Fabulous Fab" Tourre had more of a supporting role in Tuesday's Senate hearing into Goldman Sachs's contributions to the subprime mortgage disaster. He largely stayed on message and let other executives do the talking.

Continue reading Goldman's Fabrice Tourre Sticks to the Script

Goldman's Fabrice Tourre Sticks to the Script originally appeared on DailyFinance on Tue, 27 Apr 2010 13:45:00.

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By admin, April 24, 2010 11:20 am

Goldman reportedly plans to claim it was unsure of the mortgage market's direction in 2006 and 2007. How this boosts its legal case against SEC fraud charges is unclear -- but it certainly signals that clients' interests don't come first for the bank.

Continue reading Goldman's 'Unsure' Defense: Is That the Best It Can Do?

Goldman's 'Unsure' Defense: Is That the Best It Can Do? originally appeared on DailyFinance on Sat, 24 Apr 2010 12:20:00.

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By admin, April 23, 2010 7:30 am

Among Friday's best online stories for investors: a defense of John Paulson, strategies for earnings season, and is GS a buy now?

Continue reading Daily Blogwatch: What Should Apple Do with All That Cash?

Daily Blogwatch: What Should Apple Do with All That Cash? originally appeared on DailyFinance on Fri, 23 Apr 2010 08:30:00.