Did Goldman Sachs have a favorable article placed in the NY Times?

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March 11, 2010

The NY Times printed an article on March 10 that was favorable to Goldman Sachs. Any positive article about Goldman Sachs these days is noteworthy. The story, written by Peter Carbonara, mentioned how Goldman was helping small businesses via the November 2009 pledge to loan $500 Million to small business. Recall, BatteryPark.TV previously reported that this program was stalled and had actually made zero loans as of January, 2010. The Fox Business Network also covered the story.

We tried to contact Mr. Carbonara at the NY Times, but no one seemed to know who he was. He was not in the operator’s database, and the “Business desk” person answering the phone had never heard of him either. An online search indicates that Mr. Carbonara was a former BusinessWeek employee, although he does not work at Bloomberg now (the new owner of BusinessWeek). People at The NY Times suggested Mr. Carbonara was a freelance journalist, but we could not confirm his actual status and how his article made it into the NY Times.

Was this favorable story about Goldman Sachs caused by the new public relations campaign getting started to clean up Goldman’s image, as reported by Fox Business network’s Charlie Gasparino? We cannot determine this at the moment.

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