Saturday, December 19, 2009

Janet Tavakoli: Guns, Goldman Sachs, and Bloomberg's B.S.

Bloomberg News has done a lot of good research during this financial crisis, so I was surprised yesterday when it released Alice Schroeder's article claiming Goldman Sachs Group Inc.'s employees are buying guns to protect themselves against an uprising
Instead, Bloomberg gave us a badly executed theme born of gassy gossip. Schroeder's source was "a friend" repeating hearsay from yet another friend. Beyond that, it seems she just made things up without doing a lick of financial research about what really has Goldman Sachs spooked, or as it turns out, without much research at all.
Schroeder's article is an injustice to Bloomberg's true reporters. It's a shame when sensationalism drowns out good journalism. There are a lot more facts yet to be uncovered, and investigative financial journalists are the kind of people that really give Goldman Sachs reason to worry.

Read more.