''Oakland is poised to become the first city to cut ties with Goldman Sachs if the investment bank refuses to cancel an investment deal that will cost the city nearly $4 million this year.
Responding to demands from union and community leaders, the City Council voted unanimously Tuesday to stop doing business with Goldman if no agreement is reached on canceling the investment within 70 days.
"When (Goldman) made a bad bet they took our money to bail them out," Councilmember Rebecca Kaplan said. "Now, when it comes to Oakland, they're saying that what was good for them is not good for us."
read more
No comments:
Post a Comment