By Zachary Gappa | Posted in Blog | Mar-14-2012
Former Goldman Sachs employee Greg Smith left in a huff, writing an op-ed in the New York Times criticizing the anti-customer atmosphere he experienced at Goldman (click here to read his piece). Whatever you think of the ethics of Wall Street, a follow-up article by ProPublica makes Goldman Sachs look awful. Titled ?13 Reasons Goldman?s Quitting Exec May Have a Point,? the article chronicles some of the more recent ?greatest hits? of questionable ethics at Goldman Sachs. From the article (click here to read the whole thing):
April 2003: SEC charges Goldman Sachs over conflicts of interest among its research analysts. The company eventually settled for $110 million in fines and disgorgements.
November 2003: Former Goldman economist John Youngdahl pleads guilty to insider trading. The firm had to pay the SEC $4.2 million over profits it gained from the illegal dealings.
July 2004: Goldman settles with the SEC for $10 million over charges it improperly promoted a stock sale involving PetroChina.
January 2005: Goldman settles with the SEC for $40 million over charges that it violated securities law in promoting initial public offerings?.
Good food for thought. There is an important (and sometimes thin) line between an aggressive free-market society and unethical business practices. Does Goldman Sachs cross it?
Print, Email and Share:
Comments
Leave a Reply
Source: http://www.centerforajustsociety.org/2012/03/14/33735/blog/business-ethics-on-wall-street/
westminster bonnaroo 2012 lineup twisted metal sea lion si swimsuit 2012 westminster dog show abe lincoln vampire hunter
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.