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Goldman, Buffett Lead Bloomberg Week in Review

Nov. 20 (Bloomberg) -- “Goldman, Buffett Establish $500 Million Small-Business Program” leads a selection of the week’s best stories from Bloomberg News. The most-read story on Bloomberg.com was “Obama Aide Dunn Renews Criticism of Fox, Hails Jon Stewart.”

Click on the VIDEO tab above for the video pick of the week: Morgan Stanley Chief Executive Officer John Mack, speaking at the “Covering the Crisis” panel hosted by Bloomberg and Vanity Fair on Nov. 18. Highlights of the panel discussion are also available under the VIDEO tab.

Click here for stories from the December issue of Bloomberg Markets magazine.

Following is a selection of stories from the past week, chosen by senior editors at Bloomberg News.

Goldman, Buffett Establish $500 Million Small-Business Program

Nov. 18 (Bloomberg) -- Goldman Sachs Group Inc., under fire in Washington for setting aside billions of dollars for bonuses a year after getting a taxpayer bailout, is joining Warren Buffett to provide assistance to 10,000 U.S. small businesses.

Warren Winning Means No Sale If You Can’t Explain It

Nov. 19 (Bloomberg) -- In Elizabeth Warren’s world, credit card contracts would be so simple a teenager could read and understand them in four minutes. Loans would be as easy to compare as toasters, and online credit scores would be free.

General Growth Makes $9 Billion Debt Restructure Deal

Nov. 19 (Bloomberg) -- General Growth Properties Inc. reached a deal with some of its largest lenders to restructure about $9 billion of mortgage debt through its Chapter 11 case.

Angola to Belarus Plan Bonds as Emerging Markets Soar

Nov. 19 (Bloomberg) -- From Angola to Belarus, emerging- market governments are planning first-time debt offerings to take advantage of the biggest bond rally in at least 11 years.

Madoff’s Boats, Car, Ruth’s Jewels Score $3 Million for Victims

Nov. 18 (Bloomberg) -- In less than a week, the U.S. Marshals Service has raised $3 million for the victims of Bernard L. Madoff, selling off his personal assets including a teak-accented yacht, diamond earrings and a N.Y. Mets jacket.

The top 10 most-read stories on Bloomberg.com in the past week (excluding market coverage):

1. Obama Aide Dunn Renews Criticism of Fox, Hails Jon Stewart

2. Lieberman Independence Hinders Democrats’ Health-Care End Game

3. Deutsche Bank Drowning in Vegas on Costliest Bank-Owned Casino

4. U.S. Economy: Housing Fell as End of Credit Loomed

5. IRS Amnesty Draws 14,700 to Disclose Secret Offshore Accounts

6. GM Generates $3.3 Billion, Will Start Repaying Loans

7. Paulson Bets Bank of America Can Double in Two Years

8. China Will Have Own Bubble to Confront, Pimco’s Gross Says

9. Goldman, Buffett Establish $500 Million Small-Business Program

10. U.S. Economy: Retail Sales Rebound From Year’s Biggest Drop

Susan Antilla, Mark Gilbert and Caroline Baum were the three most-read opinion columnists in the past week.

Main Street Tells Wall Street, ‘Get a Real Job’: Susan Antilla

Nov. 16 (Bloomberg) -- Wall Street, meet Eric W. Haugaard, a civil engineer who designs water and sewer-line systems for the North Carolina Department of Transportation. Haugaard says he had tears in his eyes as he watched Barack Obama’s acceptance speech, hopeful that politics would get more constructive and the economic crisis would get fixed.

Goldman’s $500 Million Is Day Late, Dollar Short: Mark Gilbert

Nov. 18 (Bloomberg) -- So now we know the value Goldman Sachs Group Inc. places on salving its conscience for screwing up what Chief Executive Officer Lloyd Blankfein called “God’s work.” It seems that $500 million is all it takes to compensate the world for Goldman’s role in creating the credit crunch.

Obama Bows to Japan’s Emperor, Snubs Adam Smith: Caroline Baum

Nov. 18 (Bloomberg) -- Every morning I’m confronted with more evidence that the world has gone mad. Let’s start with last week’s attention-grabbing headline in the Wall Street Journal: “White House Aims to Cut Deficit with TARP Cash.”

#<582242.1010.1.1.47.20386.25># -0- Nov/20/2009 17:52 GMT

Last Updated: November 20, 2009 12:52 EST