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[[File:Goldman Sachs logo.png|right]]
[[File:Goldman Sachs logo.png|right]]
Goldman Sachs is a banking corporation whose business is investment banking and investment management, along with many other financial services.
'''Goldman Sachs''' is a banking corporation whose business is investment banking and investment management, along with many other financial services.
==Business==
==Business==
==History==
==History==
==Role in the [[Financial Crisis of 2008]]==
==Role in the Financial Crisis of 2008==
Part of the business model of Goldman Sachs, along with countless other investment banks, has been to trade debt obligations for profit. As part of this strategy, Goldman Sachs purchsed consolidated mortgage loan obligations from lenders and sold the repackaged obligations to other banks and financial institutions at a profit. As part of the repackaging, low expectations of loan repayment were hidden, encouraging Goldman Sachs' clients to purchase the loan obligations without fully understanding how unlikely it was that mortgage holders would actually pay those loans back. As more and more mortgage holders defaulted, the companies Goldman Sachs had sold loan obligations to began to lose money, and as these companies were clients of Goldman Sachs, so did Goldman Sachs.
Part of the business model of Goldman Sachs, along with countless other investment banks, has been to trade debt obligations for profit. As part of this strategy, Goldman Sachs purchsed consolidated mortgage loan obligations from lenders and sold the repackaged obligations to other banks and financial institutions at a profit. As part of the repackaging, low expectations of loan repayment were hidden, encouraging Goldman Sachs' clients to purchase the loan obligations without fully understanding how unlikely it was that mortgage holders would actually pay those loans back. As more and more mortgage holders defaulted, the companies Goldman Sachs had sold loan obligations to began to lose money, and as these companies were clients of Goldman Sachs, so did Goldman Sachs.
[[Category:Economics]]
[[Category:Economics]]
[[Category:Companies]]
[[Category:Companies]]
[[Category:Pages vandalized by JarlaxleArtemis]]