Goldman Sachs Links and News - May 7, 2010

Goldman Sachs Faces-Off with Shareholders
Forbes (blog)
Goldman Sachs To Create Internal 'Business Standards Committee'
By The Huffington Post News Editors 
Live Blogging Goldman Sachs Shareholder Meeting - Deal Journal - WSJ
By Michael Corkery 
AIG Fires Goldman Sachs (Payback is a Bitch) | The Big Picture
By Barry Ritholtz
Goldman Sachs Shareholders Back Blankfein in 'Important Moment ...
By Bloomberg 
The US Report - The US Report - Why did Goldman Sachs chair fumble ...
By Kay B. Day
Blankfein on Bloomberg TV: We're Dealing with a 'Crisis of Confidence'; EU ...
StreetInsider.com (subscription) 
Blankfein Vows to Rebuild Goldman Sachs's Reputation
Wall Street Journal
 Goldman Sachs Vote Rejects Splitting Role of CEO, Board Chairman
BusinessWeek
Goldman Sachs to Review Business; Blankfein Won't Step Down
BusinessWeek
Buffett Praises Blankfein, Backs Goldman Sachs on Abacus Trade ...
www.bloomberg.com/
AIG DUMPS Goldman Sachs As Its Top Adviser: NYT
By The Huffington Post News Editors
Goldman Sachs, Under Fire, Hosts Shareholder Meeting
WNYC

Goldman Sachs "awfully strange bank": Bloomberg TV Interview

Related articles by Zemanta

• Blankfein Remains Goldman's Chairman (dealbook.blogs.nytimes.com)
• Henry Blodget: Let The Lloyd Blankfein Resignation Talks Begin (huffingtonpost.com)
• Goldman Sachs To Create Internal 'Business Standards Committee' (huffingtonpost.com)
• Goldman Sachs chief Lloyd Blankfein faces call to resign (telegraph.co.uk)
• Alan Fein: Goldman: Not So Smart, But Well-Connected (huffingtonpost.com)
• 20% Of Goldman's Shareholders Want To Take Away One Of Lloyd Blankfein's Jobs (GS) (businessinsider.com)
• Goldman to do some soul searching (financialpost.com)
• "NY pensions are losing Money on Goldman Sachs" and related posts (nalert.blogspot.com)

Where Is Goldman's Liquidity Now?

Zero Hedge with a great article:

Where Was Goldman's Supplementary Liquidity Provider Team Yesterday? A Recap Of Goldman's Program Trading Monopoly

In addition to having said many things about HFT in general in the last year, over the past 12 months Zero Hedge has focused a lot of attention specifically on Goldman's dominance of the NYSE's Program Trading platform, where in addition to recent entrant GETCO, it has been to date an explicit monopolist of the so-called Supplementary Liquidity Provider program, a role which affords the company greater liquidity rebates for, well providing liquidity (more on this below), and generating who knows what other possible front market-looking, flow-prop integration (presumably legal) benefits. Yesterday, Goldman's SLP function was non-existent. One wonders - was the Goldman SLP team in fact liquidity taking, or to put it bluntly, among the main reasons for the market collapse. We are confident the SEC will aggressively pursue this line of questioning as they attempt to justify their $1 billion porn download budget. We are also confident, that should the SEC truly take its role of protectors of investor interest seriously for once, it will uncover such criminality and corruption at the level of trading integration of open exchange and ATS venues (and the "but it's so complicated - let's just leave it untouched because nobody understands it" excuse is not flying any more), that it will make Goldman's CDO criminal and civil case seems like a dimestore misdemeanor. We have written about 1,000 posts about this. Readers are welcome to go back through our archives and acquaint themselves with the NYSE's SLP program, with Goldman's domination of program trading, with Goldman's domination of dark trading venues via the Sigma X suite, with Goldman's domination of flow trading via Redi X, and with Goldman's domination of virtually every vertical of the capital markets, which would be terrific if monopolies were encouraged in the US. Alas (last time we checked with the DOJ), they are not. Which is why we ask, for the nth time, when will the anti-trust division of the DOJ finally dismantle the biggest market monopolist in the history of capital markets.

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Read the rest here

The Goldman Sachs Integrity Spill

A steel dome will be lowered over Goldman Sachs to contain the red ink

A drilling platform at the corner of Wall Street and Broadway exploded and sank today with sticky red ink spreading across the land. It is impossible to estimate the damage this will do as it begins to wash up on Main Street. Senator John Kyle of Arizona denied that any Republican in the Senate ever favored more financial drilling, “Some candidate may have had said something two or three years ago like ‘the fundamentals of the economy are sound’ but that was never our policy”.

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Stolen from prarie2