Goldman's Relationship With Clients Is a Good Thing
Some businesses do still try to emphasize, well, we still need to the clients happy. I think it's a big part of how goldman makes money. And i think they just bet on their own capital. Now i suppose jus like betting on behalf of clients, and their looking at what their clients are doing,. Then they might be making these sort of questionable bets. A i don't know exactly what was directly happening there, but it's hard to know.
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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.
