The Goldman Sachs Group, Inc. is an Investment bank based out of the United States engaging in a wide ranges of financial services. The company's main focus areas are investment banking, prime brokerage, commercial banking, and asset management. Goldman Sachs was the first bank to pay the federal government back funds received under Trouble Asset Relief Program (TARP). Now lets take a look at the evolution of Goldman Sachs, starting with the transition of the CEO from Henry Paulson to Lloyd Blankfein in 2006, when Henry Paulson left to lead the Treasury Department. Lloyd Blankfein had spent his career in the firm's growing trading business, where it bought and sold every financial product imaginable from bonds, stocks, currencies, commodities, mortgages and derivatives. The promotion of a trader to the firm's top job marked a new era which would have far-reaching effects on Goldman. Goldman Sachs had begun to highlight complex trades and risking its own capital over its traditional focus on deal-making for companies. Goldman Sachs has become very controversial due to many factors that include helping mask Greece's debt; betting on the housing collapse in the U.S. even as it helped clients wager the opposite, engaging in complex transactions that accelerated the demise of AIG, who was bailed out by the federal government for $180 billion, and the government took control, insider trading allegation, and the Malaysian Development_Berhad scandal just to name a few. Even with all the scandal Goldman Sachs has still come out on top to become one of the most dominant investment firms. There is so much to learn about the evolution of Goldman Sachs -- to get more information on the evolution of Goldman Sachs and the latest happening at Goldman Sachs click on the pictures below to read the articles.
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