Goldman's continues to try to clean up its tarnished public image. "Our work enables growth," it proclaims on its website above a picture of aircraft being made. This just days before it was charged with fraud by US regulators for allegedly not telling investors that the hedge fund Paulson & Co had helped to put together a portfolio of subprime assets which it then bet against. Goldman says that the allegations are completely unfounded. Paulson & Co is not under investigation.
Not quite so behind the scenes after all Diary has been revisiting The Greatest Trade Ever, by Gregory Zuckerman, since the Goldman revelations. The book tells the "behind-the-scenes story" of John Paulson's bets against subprime housing – and how they netted him and his hedge funds billions. Strangely, the book makes no mention of the Goldman vehicle now under investigation.
The bank where staff are steaming mad
The US gossip site Dealbreaker reveals that staff at Goldman Sachs' New York office have more urgent matters to worry about than the fraud charges. The bank has just moved headquarters and many staff aren't happy with their new accommodation. The steam rooms have apparently raised eyebrows throughout the bank.
The ash cloud with a silver lining for the UK
IHS Global Insight's economist Howard Archer is in touch to reassure us that the volcanic ash cloud isn't going to ruin the British economy. Sure, it's not great for tourism, but Archer points out: "Just as people can't get into the UK, people can't get out." So British holidaymakers are stuck here spending their money rather than going abroad, and tourists here already can't go home either.
There's no point in us lying over spilt milk
Waitrose was taken aback by the failure of its milk bags to sell, especially as Sainsbury's reports soaring sales. But maybe the upmarket grocer should not have been surprised: our experience has found many of Waitrose's bags to be – how shall we put this? – a little on the leaky side.
Number of the day: 30pc
The percentage of households to have received an incorrect energy bill during the past two years.Reuse content