Goldman was the first company, histo o h, united states, to issue aa commercial paper for a state oned electric utility in a foreign country. This gives it an Nissan extraordinary amount of power. They have these opportunities here and there where they build connections, and ina pays off and mass of dividends your ears down the line. One of the things that this book that i was mentioning about, and why i left, golden sacks, by gregg smith, pointed out, and again, i i thought it wa an ok book for just explaining how the inner workings of the company works. I thought it was a poor book in terms of explaining why there's such a
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As a $60 billion a year investment bank engaged in market making and asset management for equities, fixed income, commodity and derivative securities for large institutional clients, Goldman Sachs, having been founded in 1869, is arguably the world’s most recognizable name on Wall Street. Known for attracting some of the best financial talent, it is both respected and feared, in some cases being accused of “ripping their clients off” in the relentless pursuit of profits. Defenders of firms like Goldman Sachs make a big deal about how they’re instrumental in the efficient allocation of (financial) capital, but one could argue the concentration of highly intelligent and motivated individuals operating what amounts to a glorified casino is a gross misallocation of human capital, robbing other critical sectors of talent that would otherwise have gone to engineering real solutions, not financial ones.
