Tag Archives: financial crisis

Goldman Sachs – The “Muppet” Show

A manager at US banking giant Goldman Sachs in London has quit, saying he could no longer work there “in good conscience”. Greg Smith, who headed Goldman’s equity derivatives business in Europe, said it was common to hear talk of ripping off their “muppet” clients. “The environment now is as toxic and destructive as I […]

Dead Men Walking

A report into the collapse of Lehman Brothers criticises senior executives and auditor Ernst & Young for serious lapses that led to the firm’s collapse. The report says Lehman was insolvent for weeks before it went bankrupt, sparking a global financial meltdown. It accuses management of “actionable balance sheet manipulation” and using accounting tricks to […]

Demolition Man

Royal Bank of Scotland shareholders have criticised the appointment of Sir Fred Goodwin by the architectural firm RMJM in Edinburgh. The consultancy role will be his first job since leaving RBS after the government bailed it out 15 months ago. Roger Lawson, from the RBS Shareholder Action Group, said it was “ironic” Sir Fred got […]

I hope this isn’t accurate…

… But I have a nasty feeling it is.