If there is one company that has really seen its reputation tarnished from the recent economic crisis, its gotta be Goldman Sachs. I’ve always had great respect for high achievers, and over the past decade no company in finance has achieved like Goldman Sachs. But just like Tiger Woods, a lot of that respect has disappeared since the sausage factory was pried open.
Though Goldman Sachs are a pretty dirty company, in a very dirty business, I still think there are 3 good reasons to keep them around:
Though Goldman Sachs are a pretty dirty company, in a very dirty business, I still think there are 3 good reasons to keep them around:
- If someones gotta be dirty, it may just as well be the biggest and RICHEST!... As long as capital markets, greed and the promise of quick riches continue to exist, Wall Street will always be around. Its almost guaranteed that really smart people will forever prey on the ignorance of the not-so-smart. With Goldman Sachs we at least have a known enemy, an entity whose pockets are so deep they can be flogged forever!
- Just like an effective psych ward, they contain the madness... Just try and imagine the devastating effects of unleashing all those Harvard and MIT types out to regular, run-of-the-mill corporations. Enron clones would swamp the land in no time at all.
- As much as it hurts to admit it, we still need them... As long we have an economic system built on layers and layers of debt, we will always need someone creatively digging new holes. And no matter what their faults are, the evidence still suggests that Goldman Sachs are the best in their trade.
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