Goldman Sachs promises more transparency
This final note today. Looks like Goldman Sachs has finally had enough of its reputation as a great vampire squid wrapped around the face of humanity. The characterization isn't mine, it's the tag line from an article in Rolling Stone last year about the Darth Vader of investment banks.
And now that I think of it, maybe that's the more apt metaphor. Goldman Sachs wants you to know it's really a good guy deep inside. The company released a big report today promising transparency. It's going to tell investors more about how it makes the billions of dollars in profit that it does make. It's going to figure out how sophisticated its clients are before it offers investment opportunities. To quote the report, it's "reputational risk management."