I tried to defend this group for a bit thinking the public hysteria was overwrought. I have been reading this week alone headline after headline about them blowing their clients to smithereens or engaging in sad and ethics-free manipulation and front-running of their supposedly very treasured customers.
1) Kinder Morgan/El Paso this last week
Goldman screws El Paso Shareholders
2) The Greek Goverment Swap details emerging today
GS enables the Greeks to cheat the EU while enriching themselves
3) GS hilarously vaporizing billions of Libyan sovreign wealth fund assets
Goldman blows Qadaffi's money
4) Shorting subprime aggressively with company funds while still pitching subprime vehicle to clients
Goldman Subprime double dealing
5) Goldman actively supporting the insider trading of Galleon
Tech Stock Hijinks
This is just in the last year. All this is on top of them being lead players in the dot.com research scandals and having a primary seat in other historic Wall Street scandals.
How do potential clients of GS not see after all this that the firm does not take the concept of fiduciary duty into account? Why do they keep going to Goldman for advice? Sad.
1) Kinder Morgan/El Paso this last week
Goldman screws El Paso Shareholders
2) The Greek Goverment Swap details emerging today
GS enables the Greeks to cheat the EU while enriching themselves
3) GS hilarously vaporizing billions of Libyan sovreign wealth fund assets
Goldman blows Qadaffi's money
4) Shorting subprime aggressively with company funds while still pitching subprime vehicle to clients
Goldman Subprime double dealing
5) Goldman actively supporting the insider trading of Galleon
Tech Stock Hijinks
This is just in the last year. All this is on top of them being lead players in the dot.com research scandals and having a primary seat in other historic Wall Street scandals.
How do potential clients of GS not see after all this that the firm does not take the concept of fiduciary duty into account? Why do they keep going to Goldman for advice? Sad.
