STEPHEN CRANSTON: Why we love to hate Goldman Sachs
It is a symbol of what is left of the old Wall Street and US economic hegemony
There can’t be many firms that people love to hate as much as they do Goldman Sachs. It is a symbol of what is left of the old Wall Street and US economic hegemony. Along with Morgan Stanley, it is the last traditional Wall Street investment bank left standing now that Merrill Lynch is part of the giant Bank of America, and Lehmans and Bear Stearns have disappeared.
A Goldman Sachs man (and those in decision-making roles are almost always men) has a certain swagger, so it is no surprise that "Goldman Sachs" and "arrogance" are often used together...