Has Goldman Sachs Gone Back to the Good Old Days?
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With the rest of America still mired in the recession, Goldman Sachs has paid back $10 billion in bailout money and announced record profits. Is it a reason for public relief or public outrage? Also, Judge Sonia Sotomayor's questions come to an end, and after recovering from a broken arm, Hillary Clinton leaves tonight for India and Thailand. Why isn't she getting media treatment a superstar Secretary of State deserves?
Banner image: The New York Stock Exchange rallied yesterday on news of strong earnings, and the Dow Jones Industrial Average rose 245 points. Photo: Chris McGrath/Getty Images
Sotomayor's Questions Come to an End ()
At today's Senate confirmation hearing, Lindsay Graham told Judge Sonia Sotomayor her record shows she's not a "radical" after all. But the South Carolina Republican said her now-famous "wise Latina" remark and other things she has said, as Graham put it, "bug the hell out of me." Seth Stern is legal analyst for CQ Politics.com.
- Seth Stern: Legal Analyst, CQ Politics
Has Goldman Sachs Gone Back to the Good Old Days? ()
Even Wall Street was stunned this week when Goldman Sachs announced record quarterly profits, just one month after it repaid $10 billion in taxpayer bailout money. The bank's second-quarter net income was $3.4 billion, more than it earned in all of last year, with the prospect of bonuses that could exceed what executives were paid during the boom before the recession. Today, JP Morgan also announced big earnings, but Goldman Sachs remains in a class by itself. With former executives pulling strings in both the Bush and Obama Administrations, it's the most influential bank in America. We ask critical journalists and others about Goldman's success with other people's money in the midst of continuing recession.
- Richard Bove: Vice President, Rochdale Securities, @DickBoveSays
- Matt Taibbi: Chief Political Reporter, Rolling Stone, @mtaibbi
- Peter Cohan: President, Peter S. Cohan and Associates
- William Gruver: former General Partner, Goldman Sachs
Secretary of State Clinton Fights to Get Back in the Limelight ()
Secretary of State Hillary Clinton's brought star power to US diplomacy, but she's been overshadowed by the man in the White House, so much so that Tina Brown said, "It's time for Barack Obama to let [her] take off her burqa." Yesterday, Clinton delivered a much anticipated speech that was much admired but failed to make news. David Rothkopf, visiting scholar at the Carnegie Endowment for International Peace, isn't surprised at the lack of news coverage.
- David Rothkopf: Visiting Scholar, Carnegie Endowment for International Peace
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