my friend sent me an awesome article about goldman sachs by thomson reuters! well as much as computer science students want to work for google/apple, guess all finance students want to work for goldman/jpm! ((: do ask me for the article if you’re interested. its like 1.7megabyte though!
its about how people are so anti-goldman now after realizing how much they profit during the crisis. and since im a goldman fan, i totally support what they did. which company will give up an opportunity to profit right >< econs professors told us that RATIONAL firms are PROFIT MAXIMIZING! anyway, considering that theres the wall street protest going on now, this article might be of interest to you too!
Nothing attracts public opprobrium for the ﬁnancial industry more than Goldman Sachs and its boss Lloyd Blankfein. Rivals suffered far greater losses and required more government aid. Some even went belly up. But Blankfein and the ﬁrm he has run since June 2006 have become the personiﬁcation of all that’s wrong with the system. For one, he’s among the few bank bosses to keep his job. That makes him a more legitimate target for ire than those who have been parachuted into senior roles at weakened banks or ushered into obscurity. But it’s hardly the
only reason Blankfein and Goldman have been so lambasted.
Goldman’s problems derive from its success. The Wall Street titan dominated investment banking league tables, raked in trading proﬁts and generated the best returns on equity. It was phenomenally well regarded and connected. Blankfein’s predecessor, Hank Paulson, became U.S.
Treasury Secretary. And no ﬁrm’s employees were so well rewarded; Blankfein’s 2007 bonus, at $68 million, outstripped all peers.