US’ first African-bribery case

The United States’ first African-bribery case against a hedge fund is full of dramatic detail.

More than $100 million (paywall) in bribes, sometimes bags stuffed with cash, was paid from one of New York’s best known hedge funds, Och-Ziff Management … Read the rest

Goldman Sachs hires ‘oily sardine’ Barroso

Goldman Sachs has hired ex-head of the European Commission Jose Manuel Barroso (photo above) to be an advisor and non-executive chairman of its international business, as the U.S. bank tries to come to terms with with the aftermath of Britain’s … Read the rest

Brazil and Russia may exit BRICS warns phrasemaker

Brazil and Russia’s membership of the BRICs may expire by the end of this decade if they fail to revive their flagging economies, according to Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym.

Asked … Read the rest

Goldman Sachs sued for selling worthless trades to Libya

Protest outside Goldman Sachs

Goldman Sachs, the Wall Street investment bank, is being sued in London for selling Libya worthless derivatives trades in 2008 that the country’s financial managers did not understand. Libya says it lost approximately $1.2 billion on … Read the rest

South African productivity

Bongani Coka
Bongani Coka spreading the wealth

By Johann Theron

Recent commentary by international (financial) companies such as IHS Global and Goldman Sachs stated as follows respectively;

“South African crime at lowest levels in 15 years” (Wall Street Journal)

“Education/healthcare and public … Read the rest

Goldman Sachs profits double on investment gains, lower tax rate

Goldman Sachs Group Inc (GS.N) said quarterly profit doubled, boosted by investment gains and a lower tax rate.

Lower taxes help Goldman Sachs
Lower taxes help Goldman Sachs

Goldman’s investing and lending segment, which tracks its investments in private equity deals, publicly traded stocks, loans … Read the rest

Greece hires Goldman Sachs, Rothschild to ‘help economy’

MarkCarneybriefingWho better to help Greece escape financial turmoil than Wall Street mafia head Goldman Sachs and the international banking elite family known as the Rothschilds?

According to an official statement as reported by Reuters, Greece’s bank rescue fund has turned … Read the rest

Attack on gold continues

The orchestrated attack on bullion in the paper gold market took the spot prices of gold and silver down on Friday and Monday, but actual physical purchases rose during this period. The sales were of paper claims, not of real … Read the rest

Banks make millions out of breaking metals storage rules

London Metal Exchange
London Metal Exchange

LONDON, Feb 6 (Reuters) – Banks and trading houses have found a way to beat the ravages of economic downturn, storing millions of tonnes of metal with a business model that outsmarts new rules put in place … Read the rest