Goldman Sachs' born-again image is laughable
hat's because while Goldman traders regularly have the Midas touch when it comes to the firm's own fortunes, they seem to have a penchant for capital destruction when it came to the management of its charitable holdings. Sure, 2008 was an unusually tough year, but the filing shows that the Goldman Sachs Foundation managed to vaporize more than $100 million in assets in 2008, even as it executed thousands of trades on everything from obscure stock indexes to commodities to hedge funds. As a result, foundation assets fell by nearly a third last year For all this, the Goldman Foundation...
Original Article: Forum: News/Activism
Tags: 100 Million, Commodities, Fortunes, Foundation Assets, Goldman Sachs, Image, Midas Touch, Penchant, Stock Indexes, Trades