Does Goldman Sachs Deserve a “D” for Deficiency?
Is is too bad that Goldman Sachs is not rated on criteria other than profit and performance. What about Integrity, Ethical standards and Moral Uprightness, all of which get Goldman a Failing Grade. Besides, after the financial crisis, Goldman could not have stood on its own without bailout money from the Federal Reserve, without loans from the Federal Reserve Discount Window and without investment by Warren Buffet. So Goldman certainly “Failed” in solvency.
Goldman deserves more than a “deficient” descriptive in its overall performance when you consider that their policies included toxic MBSs that were fraudulently rated AAA and were sold to pension and savings funds who lost money on their investments. It is the pensioner and the saver who pays for Goldman Sachs unearned exclusive status as the investment bank nonpareil.
They are indeed nonpareil in fraud, deception and ongoing conflicts of interest.
Who are we kidding that Goldman Sachs even deserves a mark as high as D?