A Look at the Goldman Trading Division in the Great Depression
There's always, at some level, some percentage of scam going on in the economy. Ah, and this is something new under the sun here, but it's worth noting that they've been doing this for over a hundred years. So these sort of tactics go back along ways. With particularly like land speculation was actuall y historically america's great failing often,. And ironically, land speculation was came back in fashion in two thousand eight after bino had basically become a most an artifact with peopledno int even think of land speculation any more.
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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.
