To see how Wall Street has changed over the past decade, look to Goldman Sachs Group Inc. under Lloyd C. Blankfein. The company, once the most profitable securities firm, reported the lowest first-quarter revenue of Blankfein’s tenure as chief executive officer, which began June ...Read More

Citigroup Inc (C.N) reported a sharp decline in quarterly profit on Friday, hit by weak revenue, costs related to shrinking businesses, and loans to energy companies that are going bad. On conference calls, executives suggested the pain might not be over by saying the ...Read More

In April 2006, while Goldman was preparing an RMBS backed by Countrywide loans for securitization, a Goldman mortgage department manager circulated a “very bullish” equity research report that recommended the purchase of Countrywide stock. Goldman’s head of due diligence, who had just overseen the ...Read More

Goldman Sachs effectively admitted that it had knowingly misled investors to buy shoddy products. Investment banking giant Goldman Sachs GS 1.28% has agreed to a list of “facts” in addition to paying $5.1 billion to settle a lawsuit related to its handling of mortgage-backed ...Read More

“It is important to remember that cycles do turn, even if the timing of such inflections may be difficult to predict,” Chief Executive Officer Lloyd Blankfein and President Gary Cohn said Friday in their annual letter to shareholders. “It certainly feels like the cycle ...Read More

It has been called the bombshell that blew up Bear Stearns. It happened on Wednesday, March 12, 2008, shortly after 9 a.m. in an interview broadcast on CNBC. There, reporter David Faber asked Bear Stearns chief Alan Schwartz to respond to reports that Goldman ...Read More

As Wall Street leaders warn publicly about this quarter’s plunging revenue from trading and deals, Goldman Sachs Group Inc., the bank most reliant on those operations, has provided no guidance. The mystery isn’t whether it is getting hit too — it’s how hard. Goldman ...Read More