Filed Under:Markets, Senior Market

Goldman Roiled by Op-Ed Loses $2.2 Billion (Bloomberg)

Goldman Sachs Group Inc. saw a market loss of $2.15 billion the day after Greg Smith, a London-based executive for the firm, called to question the treatment of its clients in a New York Times op-ed piece. The 3.4% drop of $4.17 to $120.37 left the shares still up 33 percent for the year, as of March 15. Smith also wrote that he was leaving the company after 12 years because of the “decline in the firm’s moral fiber.” Goldman paid $550 million to settle a lawsuit with the Securities and Exchange Commission in 2010, and was accused by the U.S. Senate’s Permanent Subcommittee on Investigations of misleading clients, according to Smith. Data compiled by Bloomberg says in 2011, Goldman won more business than any other in advising companies on takeovers and equity offerings.

Read the story.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting

Provided by LIFEHEALTHPRO

Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.