Goldman Sachs: The bank that rules the world
19 June 2014 | Jerome Fritel & Marc Roche, Arte Capa Presse
Ever since the stock market crashed, on the night of September 15, 2008, the name Goldman Sachs, or GS, has been appearing everywhere: in the collapse of the financial system, the Greek crisis, the plunge of the euro, and the campaign to prevent regulation of financial markets.
The investment bank created in New York in 1868 has carved out its reputation and success by working silently behind the scenes.
But today GS stands accused of myriad charges: playing a key role in the subprime loan fiasco, pushing several of its competitors into bankruptcy, helping countries like Greece hide their deficits before speculating on their downfall, precipitating the fall of the euro, and influencing the consumer price index. And yet GS has come out of this latest crisis richer and more powerful than ever.