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Goldman Case What Is Up With Wall Essay

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Goldman Case What is up with Wall Street? The Goldman Standard and shaded of Gray

The Goldman Standard and Shades of Gray was a case study which was focused on Goldman Sachs and their impact on the economic system. Goldman has grown large enough in which their operation were capable of affecting the economic structure of our banking system, stock shares, as well as the government to a large extent. The company is obviously profit driven, but to an extent that borders on being ruthless and perpetually greedy for more money and success. Furthermore, Goldman's culture is more "toxic" today than it was in 2005, when they were involved in inflating a housing bubble that would help crash the global economy, or in 2007 and 2008, when they began desperately offloading their housing-related assets to investors who hadn't yet realized the market was going to crash; if there was a culture change, it likely came when Goldman went public a decade ago, not after a financial crisis that almost wiped the firm out (Klein, 2012).

Goldman's strategies that seem to balance long-term greed with short-term greed prompt questions of their ethical standards or lack thereof. The company was founded by Marcus Goldman and Samuel Sachs in 1869 and the company was supposed...

The motive to pursue pure profitability has led the company towards a path of greed and created a toxic culture. The problem to be investigated is the ethical standards of the company in relation to their investors and the price they pay. Greg Smith, a former executive for Goldman, stated "I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off of them," Smith writes "It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as "muppets," sometimes in internal e-mails" (Hamilton, 2012). .
Grey Areas

Some areas affected by the Goldman model of greed and gray areas that resulted include:

Investors

the market the U.S. economy the global economy

AIG

AIG investors employees of AIG

investment banks that had to be dissolved or acquired employees of dot-coms beneficiaries of donations by companies and investment bankers nonprofits also had their endowment funds…

Sources used in this document:
Works Cited

Antilla, S. (2013, January 8). A case of Wall Street greed gone too far. Retrieved from CNN: http://www.cnn.com/2013/01/08/opinion/antilla-goldman-stock

Hamilton, W. (2012, March 14). Exiting Goldman Sachs exec blasts firm's 'toxic,' greedy culture. Retrieved from LA Times: http://articles.latimes.com/2012/mar/14/business/la-fi-mo-goldman-greedy-20120314

Keltner, D., & Piff, P. (2012, March 16). Greed Prevents Good. Retrieved from The New York Times: http://www.nytimes.com/roomfordebate/2012/03/15/does-morality-have-a-place-on-wall-street/greed-on-wall-street-prevents-good-from-happening

Klein, e. (2012, March 15). At Goldman, short-term greed vs. long-term greed. Retrieved from The Washington Post: http://www.washingtonpost.com/blogs/wonkblog/post/at-goldman-short-term-greed-vs.-long-term-greed/2011/08/25/gIQAxFhhES_blog.html
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