The turbulent month of May is behind us.  June has brought calm, but continued hand wrangling by government finance officials in Europe, the U.K. and the U.S.

Most of the writing devoted to the World Cup is focused on players, coaches and strategy. Goldman Sachs is taking a different approach by making a unique entry into the publishing world with its 75-page “The World Cup and Economics 2010.”

The quarterly reports are in, and the results didn’t look merely good for big banks. Instead, the results looked perfect. As in, making millions of dollars every day perfect.
Four of America’s largest banks recorded perfect quarters to begin 2010. Citigroup, Bank of America, JPMorgan Chase and Goldman Sachs all reported they had zero days of trading losses between January and March. The four banks are all ranked among the top five largest in the U.S. The fourth-largest bank, Wells Fargo, did not disclose daily accounting of its gains and losses.

Law firm Wolf Popper, LLP announced Monday it has filed a class action lawsuit against investment bank Goldman Sachs on behalf of investors who purchased securities, options or common stock between August 2009 and April 2010. The suit claims Goldman Sachs did not disclose to shareholders that it was under investigation by the Securities Exchange Commission.
Says Goldman Sachs Knowingly Misled Investors

Current and former officials from investment bank Goldman Sachs answered questions Tuesday at a hearing in front of a senate subcommittee. The U.S. Senate Permanent Subcommittee on Investigations put the Goldman executives on the defensive in its fourth hearing dealing with the causes and consequences of the financial crisis.
The committee, led by senator Carl Levin, D-Mich., accused Goldman of “putting its own interests and profits ahead of the interests of its clients and our communities,” leading to “disastrous” results.