Finally, Goldman Sachs should realize that CDOs have no relationship to the real economy and they should acknowledge that they profited directly from government bailout of AIG when otherwise they would have suffered enormous losses without that help. They should even consider giving back the $12.9 billion that they took from the taxpayer via AIG.
Goldman Pushes Its Image RehabYou can read the rest of the article here
LIZ RAPPAPORT - The Wall Steet Journal
Goldman Sachs Group Inc. is taking its first steps to change the way it does business after it weathered harsh criticism and paid a $550 million fine tied to its actions before and during the financial crisis.
The Wall Street firm, which is trying to rehabilitate its public reputation with an ad campaign that, among other things, tries to show how it helps create jobs, is planning to make changes in the way it reports its finances and how it relates to clients, investors and analysts, people involved in the planning say. It has also gone outside the company and hired an executive who has been a vocal critic of Wall Street pay practices and weak corporate governance.