Goldman Sachs, Investment Bank | featured news

Goldman Sachs says its net income fell 11 percent in the April-to-June period after the investment bank's clients made fewer deals and avoided volatility in global financial markets. The New York bank said its net income fell to $962 million, or $1.78 per share, for the quarter. That compares with $1.09 billion, or $1.85 per share, a year ago. It's also far more than the $1.17 per share that analysts were expecting.

An executive resigning from the investment bank Goldman Sachs says other executives there referred to clients as "muppets." Greg Smith wrote a blistering essay about the company that was published Wednesday in The New York Times.

Goldman Sachs Group Inc could release documents to counter a Senate subcommittee report that said the bank misled clients about mortgage-linked securities, the Wall Street Journal reported, citing people familiar with the matter.

Goldman Sachs Group received a subpoena from New York prosecutors seeking information on the investment bank's role leading into the global financial crisis, a person familiar with the matter said.

A Senate investigation into the financial crisis has found that Goldman Sachs, the storied Wall Street investment bank, sought to profit from the historic decline in housing prices by betting against the US mortgage market.