Morning roundup: Goldman trial heats up, Facebook falters

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections:

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Goldman trial heats up

As things heat up at the Goldman Sachs insider trading trial, witnesses are giving very different characterizations of Rajat Gupta, one of its central figures. He’s accused of passing inside information about Goldman to a money manager to a former money manager.

Goldman’s also getting some of its laundry aired thanks to an error by its lawyers that accidentally delivered some juicy secrets about trading practices in documents requested by a plaintiff. The suit, by discount brokerage Overstock, was unsuccessful but the related documents offer a glimpse into how large banks use naked short selling as an effective tactic in the capital markets.

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Facebook follies Problems with trading systems in the initial moments of the Facebook IPO that caused some pricing errors have been replaced by accusations that the initial share price was unrealistic. While the stock flirted briefly with a pop on Friday, it’s now below the opening price.

That’s no matter to founder Mark Zuckerberg, but his new bride may care. Whatever the Zuck earned before the wedding is his by law. Her share of family wealth is calculated post nuptials.

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Greece and Spain, partners in insolvency What’s worse than one Eurozone economy going into the tank? Two of course, and that’s what Euro-watchers fear most – that Greece and Spain could drop off the cliff together and do irreparable damage to the union.

That fear has the Organization for Economic Cooperation and Development calling for the issuance of zone bonds guaranteed by all countries.

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Have a good morning!

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.