Goldman Sachs

Calls On Goldman Sachs To Reconsider Huge Bonuses After Taking Billions In Taxpayer Assistance; Menendez urges more emphasis on program to increase small business lending

January 22, 2010 -- WASHINGTON – U.S. Senator Robert Menendez (D-NJ), a member of the Banking Committee, is calling on Goldman Sachs to reconsider its huge 2009 bonus payouts after the firm stayed afloat on billions of taxpayer dollars.

Yesterday, Goldman Sachs announced $16.2 billion in bonuses and compensation in 2009, which amounts to a more than 50 percent increase over the $10.7 billion committed to bonuses and compensation in 2008. Meanwhile, the firm has received at least $24 billion in taxpayer assistance.    » read more »

Jan. 15, 2009 – As big banks prepare to dole out seven- and eight-figure bonuses while millions of Americans struggle to find work, Congressman Dan Lipinski (IL-3) said today that Wall Street must repay in full the enormous debt it owes the American taxpayer.    » read more »

Grijalva Says Goldman Sachs Should Use $13 Billion In Bailout Funds To Support Job Growth, Not Pay Executive Bonuses

December 04, 2009 -- Washington, DC – Rep. Raúl M. Grijalva today said that Goldman Sachs, one of the nation’s largest investment banking firms, should immediately repay the $13 billion in public funds it received last year from insurance giant AIG under the Troubled Assets Relief Program (TARP), and that the money should be used for job creation rather than as part of a recently announced $17 billion end-of-year bonus package for company executives.    » read more »

$500 million Commitment to New Program

November 17, 2009 -- November 17, 2009 – The Goldman Sachs Group, Inc. (NYSE: GS) today announced the launch of 10,000 Small Businesses -- a $500 million initiative that will unlock the growth and job-creation potential of 10,000 small businesses across the United States through greater access to business education, mentors and networks, and financial capital. It is based on the broadly held view of leading experts that a combination of education, capital and support services best addresses the barriers to growth for small businesses. Program highlights include:    » read more »

National Mobilization Continues to Demand End to Multi-Billion Dollar Bonuses at Bailed Out Banks and the Too Big To Fail Doctrine

November 16, 2009 -- Washington, D.C.--Today, hundreds of workers, clergy members, community leaders, and other taxpayers converged on the Washington, D.C. headquarters of Goldman Sachs to demand the bank put an end to multi-billion dollar bonuses, reject the Too Big To Fail Doctrine, and use their anticipated $23 billion bonus pool to help families facing foreclosure.

Taxpayers also called on Congress to take immediate action on real financial reform.    » read more »

October 15, 2009 -- WARWICK, RI - Congressman Jim Langevin (D-RI) today expressed outrage over news of more massive bonuses to Wall Street executives, including $198 million to be distributed by AIG next March and indications that Goldman Sachs is on track to provide a record payout to its executives by the end of 2009.    » read more »

New York, NY June 17, 2009 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has repurchased from the United States Department of the Treasury the 10,000,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series H, that were issued to the Treasury pursuant to the U.S. Treasury’s TARP Capital Purchase Program.

The aggregate purchase price paid by Goldman Sachs to the U.S. Treasury for the Preferred Stock (including accrued dividends) was approximately $10.04 billion.

The repurchase includes a one-time preferred dividend of approximately $425 million which will be reflected in our second quarter results.

This is expected to reduce reported diluted EPS for the quarter by approximately $0.77 per share.    » read more »

New York, NY June 9, 2009 - The Goldman Sachs Group, Inc. (NYSE: GS) announced today that it has received permission to repurchase from the United States Department of the Treasury the 10,000,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series H that were issued to the U.S. Treasury pursuant to the U.S. Treasury’s Troubled Asset Relief Program (TARP) Capital Purchase Plan.

The repurchase amount, together with accrued dividends, will be paid at a time determined by the U.S. Treasury.

Lloyd C. Blankfein, Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc. said, “We are grateful for the government’s extraordinary efforts and are pleased to be able to return to the U.S. Treasury the funds that were invested in Goldman Sachs.”    » read more »

BURLINGTON, Vt., May 29 – As crude oil prices jumped to the highest level in six months, Senator Bernie Sanders urged federal regulators yesterday to stop speculators from artificially driving up prices.

Sanders said the Commodity Futures Trading Commission should use its emergency powers – which include the authority to impose speculation limits, increase margin requirements, and suspend trading – in order to ensure that oil prices accurately reflect supply and demand.

“I hope you will seize this opportunity to redefine the CFTC as a strong regulator that will do everything within its power to benefit consumers,” Sanders said in a letter to Gary Gensler, the commission’s new chairman.    » read more »

Goldman paid nearly double the average bonus on Wall St; Burger King costs taxpayers estimated $273 million a year

February 17, 2009 -- WASHINGTON D.C. -- As Congress and the Obama administration look to hold major banks that have received billions in federal bailout funds better accountable for their corporate practices, a report released today by the Service Employees International Union (SEIU) on Goldman Sachs and its holdings in Burger King finds that the true total of taxpayer subsidies some of the banks are enjoying extends well beyond the monies they've taken through the Troubled Assets Relief Program (TARP).    » read more »

BURLINGTON, June 2 – Senator Bernie Sanders (I-Vt.) said today that excessive speculation on oil futures by Wall Street hedge funds and such major financial investment houses as Goldman Sachs and J.P. Morgan Chase are driving oil and gas prices much higher than they should be based on supply and demand fundamentals.

Gas prices in Elmont, New York, June 2, 2008: Photo by scarlatti2004 (CC)    » read more »

BURBANK, Calif., September 11, 2007 – Bob Iger, president and chief executive officer, The Walt Disney Company (NYSE: DIS) will participate in a question-and-answer session at the Goldman Sachs Communacopia Conference on Tuesday, September 18, 2007, at approximately 12:00 p.m. EDT/9:00 a.m. PDT.

To listen to a live Webcast of the session, please point your browser to www.disney.com/investors approximately five minutes prior to the start time.

A re-play will be provided through Tuesday, October 2, 2007, at 4:00 p.m. PDT.

Source: The Walt Disney Company

NEW YORK, NY – August 28, 2007, The Goldman Sachs Group, Inc. (NYSE: GS) plans to announce its third quarter 2007 financial results on Thursday, September 20th in a release that will be issued at approximately 8:30 am (ET). The press release will also be available on the firm's Web site.

A conference call to discuss the firm's results, outlook and related matters, will be held at 11:00 am (ET). The call will be open to the public.    » read more »

NEW YORK, August 13, 2007 -- The Goldman Sachs Group, Inc. (NYSE: GS) today made the following statement: Many funds employing quantitative strategies are currently under pressure as recent conditions have resulted in significant market dislocation. Across most sectors, there has been an increase in overlapping trades, a surge in volatility and an increase in correlations. These factors have combined to challenge many of the trading algorithms used in quantitative strategies.    » read more »