Goldman Sachs
The stake holder of Goldman Sachs are it stockholders, investors and those who conduct various financial transactions with the company and have any vested financial in the company. The impact that Goldman Sachs has had on it’s stakeholders has taken a n financial toll on many as there investments were lost the public perception of Goldman Sachs and many companies like them has changed dramatically due to the errors of their ways. When a company as large as Goldman Sachs gets accused of fraud and bad investments when they were previously thought of and sound business investments it send a shock to the financial markets around the world.
The damage to Goldman Sachs reputation extends beyond the immediate crisis, because this type of business depends on the reputation that precedes them making them now a target of ridicule in the business world. Many different commentators on the Goldman Sachs scandal say there were no ethical values from there top CEO’s that they made a gamble and careless decisions and poor choices for the company. “As a global investment bank and financial intermediary, Goldman Sachs integrates advice, financing, market-making, co-investing and asset management with its risk management capabilities to serve a broad range of largely institutional clients”. www.cbsnews.com With that being said Goldman Sachs has a certain level of responsibility to the stakeholders and to the general public they are doing business with to conduct themselves in a fair and honest manner while working within the best interest of the clients. Since Goldman itself made a profit by betting against the mortgage investment which it sold to its customers the guilt was quite evident as more information was discovered. “The instrument in the S.E.C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market”. www.newyorktimes.com
Once the abacus deals fell in value Goldman and their hedge funds
The damage to Goldman Sachs reputation extends beyond the immediate crisis, because this type of business depends on the reputation that precedes them making them now a target of ridicule in the business world. Many different commentators on the Goldman Sachs scandal say there were no ethical values from there top CEO’s that they made a gamble and careless decisions and poor choices for the company. “As a global investment bank and financial intermediary, Goldman Sachs integrates advice, financing, market-making, co-investing and asset management with its risk management capabilities to serve a broad range of largely institutional clients”. www.cbsnews.com With that being said Goldman Sachs has a certain level of responsibility to the stakeholders and to the general public they are doing business with to conduct themselves in a fair and honest manner while working within the best interest of the clients. Since Goldman itself made a profit by betting against the mortgage investment which it sold to its customers the guilt was quite evident as more information was discovered. “The instrument in the S.E.C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market”. www.newyorktimes.com
Once the abacus deals fell in value Goldman and their hedge funds
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