The Rage over Goldman Sachs

Lloyd Blankfein, the 54-year-old chairman and CEO of Goldman Sachs, is powerfully perplexed. In the past six months, his investment-banking and securities-trading firm has roared ahead in profitability by taking risks — that other firms would not — for itself and its clients in an edgy market. It has paid back the billions of dollars, and then some, of taxpayer money the government forced it to take last October; raised billions of dollars in capital from private investors, including $5 billion from Warren Buffett; and urged its cadre of well-paid and high-performing executives to show some restraint on the conspicuous-consumption front.

Share

Solar cell phones take off in developing nations

Peter Gathungu walks more than a mile to a shopping center, where he pays a sizable sum to charge his cell phone. That’s because electricity is nonexistent in Gathungu’s hometown of Njoro, in northwest Kenya. Landlines and other forms of communication are not as efficient, so Gathungu and millions of others in emerging nations rely on mobile phones.

Share

No ‘silver bullet’ to health care overhaul, Obama says

There is no "silver bullet" solution to health care overhaul, President Obama said on Saturday, but the system needs to change to avoid "a world of hurt" down the road. “There is no perfect, painless silver bullet out there that solves everyone’s problem, that gives everyone perfect health care for free.

Share