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By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
Independent voices from the The Washington Times Communities
Topic - Lloyd Blankfein
The Justice Department said Thursday it won't prosecute Wall Street firm Goldman Sachs or its employees in a financial-fraud probe.
Goldman Sachs CEO Lloyd Blankfein acknowledged fears about the state of the global economy but said he remains optimistic over the longer term, a day after his company announced a 12 percent hit to quarterly profits despite layoffs and other recent cost-cutting measures.
JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.
Fisker Automotive, a maker of electric cars that received a half-billion-dollar loan from the federal government and millions more from Delaware economic development officials, says it has laid off workers in Delaware and California.
When Goldman Sachs Group Inc. executives and shareholders gather Friday morning for the company's annual meeting in New York, the room might look a little like a house of worship.
In an internal report released Tuesday, Goldman Sachs said it would begin disclosing more information about how it makes money and ensure that its business practices put the interests of its clients first.
"I think if that's what it took to make the math work, when you look at what — when you look at the entitlement side and when you look at the revenue side, I wouldn't — I wouldn't preclude that," he said of Mr. Obama's tax increase proposal. "Of course, we would have to do that at the numbers — if the numbers drive that way."
Goldman CEO Lloyd Blankfein told the Senate panel that the company didn't bet against its clients and couldn't survive without their trust.