When it comes to the ethics of a market maker, Goldman Sachs and a Senate panel don't see eye to eye.
On Wall Street, Goldman Sachs is admired to a certain extent for its ability to generate profits. But the firm is also resented for a certain swagger.
During the Goldman Sachs hearing on Capitol Hill Tuesday, senators asked bankers why they did what they did – and the lawmakers didn't like the responses they got.
If Washington knew what was good for it and the nation, it would sever its financial connections with Wall Street. Better yet, it would enact legislation seeking to limit the impact of corporate money in politics. But that's not happening any time soon.
Wonder why they missed the financial crisis? Or Bernie Madoff's Ponzi scheme? A government report obtained by ABC News reveals that SEC employees were focused on something else: porn.
In a speech before many of the richest Wall Street bankers, Obama argued, 'We will rise or we will fall together as one nation.' But financial reform could have big downsides for bankers.
Is Goldman Sachs a breeding ground for speculative booms and busts that have harmed America, as critics assert? Or does the work of Goldman Sachs create a vital foundation for economic growth? The Goldman Sachs-SEC case has reopened that longstanding debate.