One thing is clear from today’s Goldman Sachs Senate hearings – Sen. Carl Levin does NOT approve of “sh***y deals.”

One of the common complaints about Wall Street is that it sucks up a lot of Ivy League talent that could be going toward more productive endeavors. The common assumption is that the students are just following the money. But, my friend, an anonymous Harvard graduate who spent some time on Wall Street says that's not always the case. An edited transcription of our conversation follows:

You went to Harvard. Then what happened?

April 21 (Bloomberg) -- Citigroup Inc. says it will expand its Warsaw-based investment-banking operations in Poland to take advantage of planned government asset sales.

The U.S. bank joins Goldman Sachs Group Inc., Credit Suisse Group AG and JPMorgan Chase & Co. in vying for advisory work for the government, which is preparing to sell stakes this year in its energy, insurance, chemical and phone companies to raise $10 billion to finance the widening budget deficit.

NEW YORK - Goldman Sachs Group was charged with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product, igniting a battle between Wall Street's most powerful bank and the nation's top securities regulator.

The civil lawsuit is the biggest crisis in years for a company that faced criticism over its pay and business practices after emerging from the global financial meltdown as Wall Street's most influential bank.

It may also make it more difficult for the industry to beat back calls for reform as lawmakers in Washington debate an overhaul of financial regulations.......

April 15 (Bloomberg) -- UBS AG, Switzerland’s biggest bank, had its share-price target raised by analysts at JPMorgan Cazenove as they forecast improved earnings at the investment bank.

The analysts, led by London-based Kian Abouhossein, said in a note to clients today that they increased their 2011 earnings- per-share estimate to 2.25 francs ($2.14) from 2 francs and raised the share-price target to 23 francs from 19 francs. They rate UBS “overweight.”