Goldman Sachs Reputation Destruction Tour

WSJ:  A commission probing the financial crisis denounced Goldman Sachs Group Inc., saying the firm first dragged its feet over requests for information then dumped hundreds of millions of pages of documents on the panel.

The Financial Crisis Inquiry Commission issued a subpoena to Goldman, demanding that the firm provide a key for identifying customer names and a way of matching up specific documents to the commission’s requests for information. The subpoena also demanded documents concerning Goldman’s mortgage-backed derivative securities, which are central in current federal probes of the firm.


The ongoing destruction of the once bullet proof reputation of Goldie continues apace.

The brutal combination of inept management, poor legal advice, and horrific decision making is combining is uniquely ugly ways to further damage their reputation — as if that were possible. Hard as that is to imagine, their PR — recently ranked as “For Shit” — is now heading south from there.

I am hard pressed to name any management team that is more politically tone deaf than the group that was once thought of as a brain trust. They seem to be suffering the effects of blunt head trauma. or maybe the chemicals from the new construction at 200 West St is making everyone there loopy — a form of chemical poisoning that has made them all stoopid.

Are they secretly fans of Matt Taibbi — and this is a way to help generate more material for him? Did Goldman secretly hired Dick Fuld and Stan O’Neal as their new co-CEOs — to help dismantle the place?

Unless — yes, this must be it! — This is a secret plan to make a big banking client’s management team — some energy firm called BP — look good by comparison!

These are the only things I can imagine that explains some of the really dumb-fuck-decision-making going on at GS. Other than these explanations I cannot figure what in tarnation is going on at 200 West St . . .

Any ideas?


Goldman Accused of Stalling by Panel
WSJ, June 8, 2010

Goldman Deserves Regulatory Probe in Bloomberg Poll
Christine Harper and Robert Schmidt
Bloomberg, June 8 2010

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