Tarnished Goldman

By MICHAEL GRAY Bipartisan House members including Ron Paul sent a letter to Ben Bernanke requesting the Fed chief to look into Goldman Sachs’ use of taxpaying bailout funds. The members are questioning the bank’s ability to generate historic profits months after getting billions from the public coffers. Goldman did payback Uncle Sam all the […]

Early Winter of Discontent

By MICHAEL GRAY News from overseas and within certain circles in the US has piqued my interest. The events overseas involve the flu epidemic and the forecasts for this fall. This news is really under the radar right now. It appears to some medical organizations that this swine flu virus will morph into a pandemic […]

Goldman Earns its Reputation

By MICHAEL GRAY Goldman Sachs reported record earnings for the quarter this morning. No surprise. I’m not one to pick apart a balance sheet, but Goldman made $1.4B more in the quarter than last year’s 2nd quarter. Earnings per share more than doubled. Now the biggest gain was in trading revenue, which include its own […]

TIAA CREF: Breaking the buck

By MICHAEL GRAY Rumors were flying on the street yesterday that a TIAA CREF mutual fund “broke the buck” or its value fell below the $1.00 a share price. The company had no comment on the rumor, but on its Web site the company reported that the fund has done this in the past and […]

Goldman’s Gothcha

Goldman’s Gotcha By MICHAEL GRAY A former Goldman Sachs computer programmer, Sergey Aleynikov, was arrested and charged with stealing the trading software from the firm. Assistant U.S. Attorney Joseph Facciponti said Aleynikov’s alleged theft poses a risk to US markets. Aleynikov transferred the code, which is worth millions of dollars, to a computer server in […]