MTA Severs Relationship With Goldman Sachs


You know things are bad when even the MTA doesn’t want to be associated with you. The agency will not be renewing its contract with Goldman Sachs, the MTA’s longtime financial adviser, though the decision apparently was not related to the recent SEC lawsuit, according to the Times’ sources. Goldman earned $28.8 million in fees from the MTA from 2000 to 2008, most of which reportedly came from commissions for issuing bonds. The Times can’t resist reveling a bit in its comparison of the two institutions, citing their similar “declines” in recent months. And one “transit watchdog,” a staff lawyer for the Straphangers Campaign, added insult to injury for the dumped bank: “The only entity in America that is less popular than the MTA is Goldman Sachs,” he said.

M.T.A. to End Relationship With Goldman Sachs [City Room/NYT]