There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
Goldman Sachs Group Inc.’s hiring of a former Credit Suisse Group AG vice president of emerging markets has left the executive facing a lawsuit accusing her of stealing her former employer’s trade secrets.
Goldman Sachs Group Inc. said Julian Salisbury will become head of the global special-situations group, a unit that invests the firm’s own money and generated as much as $4 billion a year before the financial crisis.
Andrew Cader, former head of Goldman Sachs Group Inc.’s Spear, Leeds & Kellogg LP, was sued by Steel Partners LLC Chairman and Chief Executive Officer Warren Lichtenstein over claims he helped wrongly inflate child support payments for the mother of Lichtenstein’s 5-year-old daughter.
Goldman Sachs Group Inc. failed to win dismissal of a lawsuit claiming it engaged in fraud and racketeering in selling $375 million of residential mortgage- backed securities to Prudential Financial Inc.
Barclays Plc, the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report.