former General Partner, Goldman Sachs
Former general partner at Goldman Sachs; Distinguished Clinical Professor of Management at Bucknell University
PROFILE
William Gruver
Guest
FROM William Gruver
Which Way, L.A.?
Has Goldman Sachs Gone Back to the Good Old Days? Even Wall Street was stunned this week when Goldman Sachs announced record quarterly profits — more than it earned in all of last year — with the prospect of bonuses that could match or exceed what executives were paid during the boom before the recession. Net income for the second quarter was $3.4 billion -- 65% higher than last year, just one month after the bank repaid $10 billion in taxpayer bailout money. 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.
To the Point
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.
Recommended
Left, Right & Center
How was the trip? President Trump's travels got less fun as he went from the Middle East to Europe.
To the Point
The longest US war: Will Trump send more troops to Afghanistan? The Trump White House is divided over the Pentagon's request for more troops in Afghanistan—where the US has been fighting for the past 16 years. Is there a formula -- either for "victory" or a political settlement? Is there an end in sight for America's longest war?
To the Point
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
To the Point
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.