The Case Against Goldman Sachs

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Vol 46 Issue 18

Yankees Hat Purchased

WAYNE, NJ—Thirty-six-year-old Ian Althoff, a self-professed casual baseball fan, purchased a fitted New York Yankees baseball cap Monday for the retail price of $33.99.

Phillies Bring In Bruise Specialist

PHILADELPHIA—Phillies manager Charlie Manuel announced Thursday that a bruise specialist from the Johns Hopkins Hospital's contusion trauma center was brought in to examine a third-degree boo-boo on outfielder Shane Victorino's thigh.

Actress, Musician To Wed

HOLLYWOOD, CA—The musician, who was once married to the dancer before divorcing three years ago amid scandal over an Internet sexual intercourse tape, recently attended sex addiction rehab and is described as "ready to settle down" by his lawyer.

Early Marijuana Use Increases Psychosis Risk

A study by the Queensland Brain Institute in Australia showed that young adults who had smoked marijuana for at least six years were twice as likely to suffer delusions, hallucinations, or psychotic episodes.
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Just Like Everything Else!: Fox 8 p.m. EDT/7 p.m. ABC Pete's wife is still on him about building that darn shed, these kids are going to be the death of Sheila and Dave, and the hot next-door neighbor is up in EVERYBODY'S business! Sunday nights on ABC couldn't be any more familiar!

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Fun

  • Night Out Consecrated With Opening Exchange Of High-Fives

    CHARLOTTE, NC—Kicking off the evening with their customary expression of excitement and camaraderie, a group of friends reportedly consecrated their night out on the town Friday with a ceremonial opening exchange of high-fives.

The Case Against Goldman Sachs

The Securities and Exchange Commission's lawsuit against Goldman Sachs is revealing a cavalier culture in which the firm invested recklessly and bet against its own clients. Here are some of the company's questionable practices:

  • Created its own blood bank and sat on all deposits until the Haitian earthquake
  • Tried their hardest to dissuade risk-loving pensioners and teachers' unions from buying into unsound derivatives, but in the end it wasn't enough to stop them
  • Drove up commodity index while hedging against price increases by maintaining a 20-acre facility crammed with full barrels of crude oil, stockpiled bales of cotton, and tens of thousands of lean hogs
  • The guy who delivered lunch every day was always tipped with one of the company's crumbling mutual funds
  • Offered clients discounted concert tickets that junior analysts won by repeatedly dialing into radio contests
  • Invested in the highly lucrative underground organ trade through its Mexican subsidiary Goldmando Saques
  • Over the years, executives secretly dumped the contents of nearly 2,400 convenience stores' take-a-penny-leave-a-penny trays into their suit pockets
  • Taking your money and not telling you what the hell they're doing with it
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