Easy Street: Goldman Sachs’ No Good, Very Bad Day
Easy Street is Marketplace’s daily roundup of the most interesting news stories and commentary about Wall Street, Washington and the curious world of finance. You can see more of what we think are the biggest stories of the day on our News in Brief page. Every day, you can download Marketplace’s daily show on iTunes and follow us for more headlines at twitter.com/mktplaceradio. If you want to listen to Marketplace on the radio, find out [which stations carry us and what time we’re on](().
“The pain of paying” is apparently why oil is up and silver and housing are down.
Goldman Sachs is having a rough week, with downgrades, an embarrassing connection to Raj Rajaratnam and more. Shares are down 4% today.
Related: The greatest hits of Lucas Van Praag, the firm’s hyperliterate spokesman and great stylist of insults.
The freakish resemblances between the actors in HBO’s Too Big to Fail and the Stewards of Capital that they are meant to represent.
They can take Raj Rajaratnam’s freedom, but they can’t take his money.
A handy list of the top 25 biggest hedge funds. Study it like you’re a prosecutor. Also, ponder the mystifying exclusion of the $13 billion, powerful hedge fund SAC Capital Advisors.
The Washington Matrix
Sheila Bair is the chair of the FDIC. She is leaving in July. Until then, she is shooting out public statements with kamikaze courage. She broke with Congress today to prevent the whitewash of the mortgage crisis.
Pots & Kettles
“Facebook believes Google is doing some things in social networking that raise privacy concerns.“
Related: “The NEW tech bubble,” except not new, in the sense that no one has talked of anything else for nearly a year straight now.
Osama Bin Laden kept a journal (“Dear Diary: America is mean! I can’t wait until I get a job and don’t have to listen to them any more!”) and considered Vice President Joe Biden beneath assassinating.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.