Burning up Wall Street and the virtual Wall Street that is Twitter and Facebook, not to mention inspiring wags such as the UK's Daily Mash (above) and US humorist Andy Borowitz — you've no doubt already read Goldman Sachs' exec Greg Smith’s excoriating resignation letter published as a take-no-prisoners op-ed column in The New York Times today. Goldman, no surprising, rejected Smith's accusations in the 'other' paper of record, the Wall Street Journal.Continue reading...

Big bank Goldman Sachs is trying to repair its reputation, damaged by charges of civil fraud and a criminal investigation — never mind an embarrassment of riches in the firm's report of over $13 billion of net earnings in 2009.

So it may come as no surprise that Goldman Sachs is reportedly considering everything from an ad campaign to an appearance on The Oprah Show by CEO Lloyd Blankfein.

The Wall Street Journal reports that Fiona Laffan, head of media relations in Europe, the Middle East and Africa for Goldman Sachs, publicly stated that "mistrust and hatred of bankers, not just those at Goldman Sachs, remained near an all-time high and that the bank, as an industry leader, needed to do a better job of explaining what it did and how."

Goldman Sachs has already gone on the offensive.Continue reading...