The Goldman Sachs Group, Inc. is an American multinational finance company that engages in global investment banking, investment management, securities, and other financial services, primarily with institutional clients.
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During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. The large number of former Goldman Sachs employees in the US government has been jokingly referred to "Government Sachs".
On May 10, 2009, the Goldman Sachs Group agreed to pay up to $60 million to end an investigation by the Massachusetts attorney general’s office into whether the firm helped promote unfair home loans in the state. The settlement will be used to reduce the mortgage payments of 714 Massachusetts residents who had secured subprime mortgages funded by Goldman Sachs.
With a rainbow flag hanging outside of its Wall Street headquarters, investment banking firm Goldman Sachs was quick to express support for Wednesday's Supreme Court decision overturning the Defense of Marriage Act. "We strongly support the Court's affirmation today of marriage equality," the firm tweeted within hours of the ruling.
Four major Wall Street institutions stand out; Barclays, Barclays Capitol, Goldman Sachs and Citi. Each are listed as given between $1 million and $5 million to the Foundation. Citigroup, UBS, Banc of California and Bank of America are listed as giving up to $1 million to the [Clinton] Foundation.
Goldman was a key participant in that “shadow banking system” that precipitated the housing market collapse and the consequent financial debacle that slammed America’s middle class. (A system that was unleashed in part due to deregulation supported by the Clinton administration in the 1990s.) This investment house might even be considered one of the robber barons of Wall Street.
Goldman Sachs has been hosting recruitment events for LGBT students in Tokyo since 2009. The New York-based bank also reimburses Japan-based employees for the cost of obtaining national health insurance coverage for domestic partners. “We need to first properly understand LGBT people, and foster an environment that eliminates discrimination at the workplace, at school and in society," committee chairman Keiji Furuya wrote in his blog on Feb. 18.
The U.S. needs all the immigrants it can get to keep up economic growth — and no, we’re not speaking just about researchers and scientists. That’s according to Goldman Sachs economists, who, in a recent research note, said U.S. President Donald Trump‘s immigration curbs could cause the U.S. to slide from the top to the middle of the pack among advanced economies in terms of projected population growth.
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Last updated: Sun May 14 2017 17:22:25
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