1. Scandals

    Goldman’s Troubles Rise to Top

    More evidence that Goldman Sachs' CEO Lloyd Blankfein could be in trouble: The New York Times says that senior executives at the bank, up to and including Blankfein, played a “pivotal role” in overseeing the mortgage unit that now stands accused of defrauding investors. By early 2007, Blankfein and other executives were visiting the unit frequently and for hours at a time—high-level involvement that the Times says was “unusual” at other banks. The Wall Street Journal reports, meanwhile, that the SEC is investigating whether other banks may have similarly defrauded investors. Deutsche Bank, UBS, and Merrill Lynch all created mortgage deals that quickly went sour.

    Read it at The New York Times