Wall Street firm Goldman Sachs triples the base salary of its chief executive Lloyd Blankfein to $2 million, up from $600,000, after the bank's profit falls by 38 per cent.
Goldman Sachs, the American multinational investment banking firm, launches an FDIC-insured, Internet-based savings bank. The Wall Street institution, whose investment banking account minimums are in the millions, sets a minimum deposit of $1 dollar for GSBank.com.
Goldman Sachs agrees to pay $5.06 billion to settle allegations that it sold packages of shoddy mortgages prior to the global financial crisis.. The U.S. Justice Department settlement includes a $2.385 billion civil penalty, and $1.8 billion for distressed borrowers and communities affected by the housing crisis.
Hundreds of United States citizens rally to peacefully occupy Wall Street, demonstrating against corporate dominance and perceived tax evasion by the super-rich. The movement is reportedly inspired by the periodic protests tactic of the Arab Spring.