Question

1. How could the culture described be changed?
2. Who will need to cause this culture to change?
3. What will have to happen to cause this change?
4. Is it likely that Goldman Sachs will be able to hire the best and brightest recruits unless they change the culture described? Why and why not?
5. Corporate psychopaths would likely be attracted to a firm with Goldman’s modern culture. How would Goldman ensure that they are not hired?

Allegations of serious impropriety and perhaps illegality surrounding Goldman Sachs’ contribution to the 2008 financial crisis have been well publicized. Allegations included trading for their own benefit directly against the interests of its clients (e.g., the ABACUS deal involved deliberately stuffing collateralized debt obligations with inferior mortgage assets, selling them to clients, and then short selling them for their own account) and abusive practices generally.1 These allegations, and a description of the ABACUS deal, are the subject of the ethics case Goldman Sachs’ Conflicts: Guilty or Not?



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  • CreatedOctober 28, 2014
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