The humbling of Goldman Sachs
The struggle to reinvent a firm trapped by its own mythology
Goldman Sachs has always seen itself as exceptional. When the bank floated its shares in New York in 1999 it declared: “We have an uncompromising determination to achieve excellence in everything we undertake.” Conspiracy theorists have long paid it the backhanded compliment of imagining that it secretly runs the world. Yet lately the only exceptional thing about the Wall Street icon has been its mistakes.
This article appeared in the Leaders section of the print edition under the headline “The humbling of Goldman Sachs”
From the January 28th 2023 edition
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