Goldman once dominated Wall Street. In 2009, after the financial crisis, when most financial institutions were left reeling, Goldman had its best year ever. It appeared an apex-predator, one that could outsmart its rivals in even the toughest environments. But the last decade has been humbling for Goldman.
On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird ask what is going wrong with Goldman Sachs. We hear how the bank grew from a basement office selling promissory notes in downtown Manhattan to become the most revered name on Wall Street. Analyst Steven Chubak tells us when things changed for Goldman, and how it is trying to adapt. And The Economist's Patrick Foulis says the bank’s mystique is at odds with its “mediocre, pedestrian and humdrum” valuation.
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