nitro, I find it hilarious that you seem to agree with the criticism of GS for its greed and lack of ethics for its customers then also endorse criticism of AMZN when they do the exact opposite(Offers the best price to the customer). It looks to me that you just don't like capitalism in general
Huh? There must be some mis-communication. I don't endorse any unethical behavior. I do sometimes hold contradictory opinions (we all do) and sometimes I am even a hypocrite (we all are), but my opinions make sense to me for the most part.
SEC fines Goldman Sachs $22 mln over 'huddles' WASHINGTON (MarketWatch) - The Securities and Exchange Commission on Thursday fined Goldman Sachs & Co. GS -4.40% $22 million over allegations that the Wall Street bank's analysts shared material nonpublic information about upcoming research changes in weekly "huddles." Huddles were a practice where Goldman's research analysts met to provide "their best trading ideas" to firm traders and later passed them on to a select group of top clients, the SEC said. "Despite being on notice from the SEC about the importance of such controls, Goldman failed to implement policies and procedures that adequately controlled the risk that research analysts could preview upcoming ratings changes with select traders and clients," said SEC Director of Enforcement Robert Khuzami. http://www.marketwatch.com/story/sec-fines-goldman-sachs-22-mln-over-huddles-2012-04-12
i would think the business expense of 22 mil was justified from their perspective and they still did well.
Supreme Count Declines To Hear Gupta Appeal Apr 20 2015 | 10:54am ET The U.S. Supreme Court will not hear former Goldman Sachs director Rajat Gupta’s appeal of his 2012 insider-trading conviction. There was no comment from the court in the decision. Gupta’s appeal alleged the trial court had failed to admit evidence of his good character and a lack of motive to commit the offense. Gupta was convicted of three counts of securities fraud and one count of conspiracy to pass inside information. Galleon Group founder Raj Rajaratnam is serving an 11-year sentence for his role in the scandal. In 2014, a federal appeals court upheld Gupta’s conviction. His petition to the Supreme Court was his last option to have his case reviewed.
The Rise and Fall of Tim Leissner, Goldman's Big Man in Malaysia "...Few corporations have mastered the mix of money and power like New York-based Goldman Sachs, whose alumni have become U.S. lawmakers, Treasury secretaries and central bankers. Leissner’s rise and fall shows how lucrative and fraught it can be when the bank exports that recipe worldwide. In 2002, when the firm made him head of investment banking in Singapore, it had just cleaned up a mess there after offending powerful families. It took only a few years before the networking maestro was helping the bank soar in Southeast Asia -- culminating in billion-dollar deals with state fund 1Malaysia Development Bhd., also known as 1MDB. But if his links to the rich and powerful fueled his Goldman career, they also helped end it...." http://www.bloomberg.com/news/artic...of-tim-leissner-goldman-s-big-man-in-malaysia
Wall Street’s fingerprints are all over this scandal Wall Street banks played a key role in helping a Malaysian sovereign fund raise and move money, much of which went missing. That is a key takeaway from a damning 106-page report by a bi-partisan parliamentary committee into the goings-on at 1Malaysia Development Berhad. The report, which highlights over $4 billion in suspect payments, shows how Deutsche Bank, JPMorgan, and Goldman Sachshad their fingerprints all over the disgraced fund. Goldman has long been at the centre of the controversy surrounding 1MDB, where Malaysian Prime Minister Najib Razak remains chairman of the board of advisors. The firm pocketed eye-popping fees arranging three bond deals between 2012 and 2013 that raised $6.5 billion for the fund. At its client's highly unusual request, Goldman even arranged to send almost half the proceeds to a small Swiss private bank. http://www.cnbc.com/2016/04/12/wall-streets-fingerprints-are-all-over-this-scandal-commentary.html