Friday, June 03, 2011

Nashville is also one of Goldman Sachs' clients thanks to convention center construction

It does not help local consumer confidence to know that there is a chance a major Metro financier could be designing things to enable its own profits while its clients lose:

A prosecutor in New York has subpoenaed Wall Street powerhouse Goldman Sachs for information related to the financial crisis, a person familiar with the development said Thursday.

The broad request from the Manhattan district attorney, issued last month, stems from an April report by Senate investigators that accused Goldman Sachs of abusive behavior, according to the source.

The report said Goldman Sachs contributed to the financial crisis, partly by designing mortgage-related investments that enabled the firm to profit while its clients lost money.

We do have Rich Riebeling's word that Goldman would never do to convention center-related investments what it did to mortgage-related investments. Is that good enough for you?


  1. Matt Taibbi's story on how Goldman played Birmingham, AL should give Nashville taxpayers pause.

  2. Goldman has played many others towns and cities as well. And for what?

    Commissions and bonuses.