The Dow Jones industrial average closed above 14,000 Friday for the first time since October 2007. The Dow Jones industrial average is a stock market index that is traditionally considered a benchmark for how the entire stock market is faring.
While Greg Smith's public resignation has attracted media attention, regulators and Wall Street insiders say Goldman Sachs' problems come as no surprise.
The Dow is within reach of the rarefied 13000 mark — a level it hasn't seen since May 2008, four months before the financial system almost came apart.
Unemployment claims jumped last week prompting a fall in stock prices Thursday.