Wall Street High-Flyers: Having It Their Way at Burger King

Florida tomato pickers started a protest march last week at the Miami office of a New York investment bank. For good reason. December 3, 2007 By Sam Pizzigati Hundreds of migrant farmworkers marched through Miami this past Friday to protest a Florida tomato grower maneuver that will cut some tomato picker wages by 40 percent. […]

Goldman Sachs Was Wrong & 2 Million Families May Lose Their Homes

What’s going wrong in the financial sector is not so unusual after all. One of the funniest moments in the great credit crunch of 2007 came in the summer. “We are seeing things that were 25-standard deviation events, several days in a row,” said David Viniar, CFO of the smartest financial firm in the world, […]

Goldman Sachs Escaped Subprime Collapse by Selling Subprime Bonds Short

Phew! That was close. For a moment there, it looked like the collapse of the subprime mortgage market was going to wipe billions off financial earnings for years to come. The bad debts were stacked up like poisoned berries gathered by a poison-crazed squirrel during the housing bubble of 2003-2006. Going bad – fast – […]