More to the Goldman Sachs VP's Story

Earlier this year, a VP at Goldman Sachs, Greg Smith, resigned and published his resignation letter in the New York Times. In his letter he laid out claims that Goldman's business model is to consciously rip off their clients. 60 Minutes recently did a story on Smith and interviews him along with numerous other individuals. Smith has recently published a book titled "Why I left Goldman Sachs." Goldman officials claim that Smith has a personal vendetta against his employer. On the other hand, Smith is not the first person to criticize Goldman or the investment banking industry for unethical business practices. Many trace some of the major economic downturns of our times back to this industry including major frauds like Enron and Worldcom as well as the mortgage meltdown. Check out the 60 Minutes story if you're interested in hearing more from Smith and his allegations against Goldman.

Lance Armstrong Investigation: 60 Minutes Responds

Yesterday's news was that Lance Armstrong's legal team was asking for an apology from 60 Minutes. I mentioned that I wasn't going to hold my breath waiting for 60 Minutes to tell Lance they are sorry. News reports are now publishing the response from the program. Here is what is being reported that they said:

What does LiveStrong and Three Cups of Tea have in Common?

A more direct question might be whether Lance Armstrong's charitable foundation, LiveStrong, is managed like Greg Mortenson, author of "Three Cups of Tea" is managing his charity, The Central Asia Institute (CAI). Mortenson became famous and influential when he published his inspiring stories about how he came to dedicate his life to helping educate women in Afghanistan and Pakistan in "Three Cups of Tea" and its sequel, "Stones Into Schools: Promoting Peace with Books, Not Bombs, in Afghanistan and Pakistan." However, yesterday Mortenson was accused of committing fraud to create his initial success and lying about how he has used donations given to his charity to help educate the poor in these countries. According to a 60 Minutes report, Mortenson has been using his charity as a tool for self promotion and dipping into the piggy bank. In addition...