Goldman Sachs, Buying Redemption

Saturday, October 26, 2013

The New York Times' DealBook section examined the philanthropic giving of Goldman Sachs and its foundation, while PND reported on Goldman's new $250 million Social Impact Fund.

Goldman Sachs is a master at making money. Lately it has become a master at giving it away. Goldman — for many a symbol of Wall Street greed and excess — wants the world to know it has a charitable side. With the same calculation that earned it a reputation as the savviest trading house on Wall Street, it has staked out a position as one of the nation’s leading corporate philanthropists, giving away more than $1.6 billion since 2008. You may remember Goldman as the bank accused of making billions of dollars while ordinary people were losing their homes during the financial crisis. Or as the firm whose traders were said to have misled investors by selling them, as one memorable internal e-mail described it, “junk that nobody was dumb enough to take first time around.”...

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