NEW YORK (TheStreet) -- Goldman Sachs (GS) hired a former FBI agent for its compliance department, Bank of America (BAC) reportedly made plans to invest in Spanish tourism and General Electric (GE) plans to sell its fleet of leased vehicles.
While all three developments may be positive news for investors, they weren't enough to keep stock in the companies from following the broader markets lower in a dismal return from the Memorial Day holiday. The S&P 500 Financials Index dropped 0.9%, faring slightly better than the broader S&P 500, which fell 1%.
The big gainer for the day was the Volatility Index, a gauge of investor anxiety, which jumped 17%.
Goldman Sachs is taking the era of increased regulations seriously: The bank just hired Patrick Carroll, a former FBI agent, as a vice president in its compliance, surveillance and strategy group.
Carroll is no stranger to Wall Street. In fact, in his former role with the FBI, he used wiretaps in his investigation of Galleon Group's Raj Rajaratnam and was also involved in the investigation of Bernie Madoff. Madoff, a putative investment guru, was sentenced to 150 years in prison in 2009 after admitting his hedge fund was a Ponzi scheme.
Prior to his 25-year career with the FBI, Carroll also did stints at Lehman Brothers and Merrill Lynch. With regard to his career background, Carroll told Bloomberg: "I haven't told the FBI this, but every place I've left has crumbled."