Orgnizations ... USA ... Banking
Goldman Sachs

Goldman Sachs withdraws from sponsoring credit union honoring Occupy Wall St.

COMMENTARY

Peter Burgess

Goldman Sachs withdraws from sponsoring credit union honoring Occupy Wall St.

Goldman Sachs has withdrawn its sponsorship and funding of a credit union honoring Occupy Wall Street at a fund-raising event, according to The Wall Street Journal.

The investment giant pulled its support for the Lowest East Side’s Federal Credit Union and its 25 anniversary after learning that the protestors were among the honorees for the event.

Goldman not only took its name off the event, but also declined to follow through on a pledge to donate $5,000 to the credit union. Occupy Wall Street chose the credit union as one of the places for its finances based on it not being controlled by the Wall Street banks.

The demonstrators currently have almost $450,000 in donations, with some of it placed in the credit union.

Andrew Jones is a staff writer/reporter for Raw Story. Besides covering politics, he is also a freelance sports journalist, as well as a slam poetry and music artist. You can follow him on Twitter @sluggahjells.