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Goldman Sachs Roiled by New York Times Op-Ed Loses $2.2 Billion for Shareholders — The company saw $2.15 billion of its market value wiped out after Greg Smith assailed CEO Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.

Goldman Sachs Group Inc. (GS) saw $2.15 billion of its market value wiped out after an employee assailed Chief Executive Officer Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.

The shares dropped 3.4 percent in New York trading yesterday, the third-biggest decline in the 81-company Standard & Poor’s 500 Financials Index, after London-based Greg Smith made the accusations in a New York Times op-ed piece.

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All I can say is “good”. 

Goldman Sachs: Excessive speculation has artificially driven oil prices up at least $20 a barrel over what supply and demand dictate

They even admitted that their work to drive up prices has harmed the American economic recovery, pointing to “nascent signs of oil demand destructionin the US.”

Ed Schultz, who’s been one of the few voices in the media sounding the alarm about unregulated speculators, yesterday bashed Fox News for selling the “drill baby drill” line in response to the surge in the oil markets. Former commodities trader Dan Dicker explained to Schultz that the CFTC is failing its mandate to control Wall Street.

source and video at Think Progress