SEC Enforcement Director Robert Khuzami Jokes About Causing The Marke... -08/09/09 at 12:11 PM CDTby Perry Rod

In a speech for the New York State Bar, Securities and Exchange Commission Enforcement Director Robert Khuzami made a joke that for some might be more telling that it is funny.  He stated: "I'm pretty proud of my own 100-day accomplishments. So how have things changed? Before I joined the Division in March, the Dow was struggling around 6500 points....

Goldman Sachs Predicts the Future -08/07/09 at 12:18 PM CDTby Perry Rod

Conspiracy theorists will love this.  Yesterday, Jan Hatzius, the chief U.S. economist at Goldman Sachs (GS) revised his forecast of job losses from 300,000 to 250,000. The prediction was very accurate.  Today, we learned that the number turned out to be 247,000. Is it golden analysis or does Goldman somehow own the government, as many have rec...

No Such Thing As Bad Press For Goldman Sachs -07/03/09 at 3:42 PM CDTby Perry Rod

Matt Taibbi has written a scathing piece in Rolling Stone magazine about how Goldman Sachs (GS) is the "Great American Bubble Machine."  He basically makes yet another case that Goldman Sachs makes money by controlling America's politicians and regulators.  He is not the first to make this case. For example in 2006, Kyle Pope, a former writer a...

Barack Obama: Another Captured Pawn of Goldman Sachs' Wall Street -04/27/09 at 6:05 PM CDTby Perry Rod

It isn’t really a conspiracy or a criticism.  It’s just a fact. In 2006, The Los Angeles Times did a story entitled, “Goldman Sachs Rules The World,” pointing out that former President Bush’s team of economic experts were basically a team of former Goldman Sachs executives.  That list included Henry Paulson, who ra...

Consolidation Brings Job Cuts -11/28/08 at 1:46 PM CSTby Reggie Abaca

J.P. Morgan is now saying that they will be cutting jobs at Washington Mutual. This is on top of job cuts at their other recent acquisitions, including Bear Stearns. This news highlights a new trend toward profitability - significant job cuts. The continued cuts are sure to significantly impact the economy. And the timing could not be worse. This holi...

Short Selling Implicated in the Greatest Market Cataclysm Since 1929 -11/25/08 at 10:21 PM CSTby Perry Rod

Investigative Reporter Mark Mitchell responded today to a Wall Street Journal article uncovering the fact that short selling played a major role in the current global crisis: Journalists who write about short selling hedge funds fall into three categories. The first category is comprised of a very small number of journalists who have deliberately whitewas...

Naked Short Sellers Attack Citigroup -11/21/08 at 7:22 PM CSTby Reggie Abaca

America's financial system is a mess and the U.S. Securities and Exchange Commission is to blame. Short sellers, in a concerted effort to defend themselves and abuse the lack of regulation by the SEC, are now targeting Citigroup (C) while our financial journalists, analysts and government regulators continue to do nothing. At Market Rap we've pointed out...

Citigroup Cuts 20% of Workforce -11/17/08 at 10:37 AM CSTby Peter York

50,000 people is a lot of people.  That's 50,000 on top of 20,000 layoffs. Citigroup (C) has cut off approximately 30% of its workforce now amid the economic crisis as cost cutting continues.  The danger of all of it is that this is happening in the crucial holiday period, one week before Thanksgiving.  And it's on top of 5% to 10% cuts byJ...