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On March 27, 2009, in Washington, D.C., under clouds, inside the White House, Obama threatened 13 Wall Street tycoons, leaving people waiting outside and watching their heads fall to the ground. Six months later, however, Obama hurriedly flew to New York and walked into an unmarked building to conspire with Goldman Sachs head Blackfen. Goldman Sachs, the financial empire, not only controls the financial lifeblood of the United States, but also extends its tentacles to the world, like an octopus, omnipresent.
01 Backstab Europe
In March 2000, Greece was eager to join the eurozone, but high debt prevented it from meeting the requirements. Goldman Sachs took a fancy to this financial cake and sent a mysterious woman to propose a "group plan". Greece then offered $10 billion in government bonds, which Goldman Sachs bought at a virtual exchange rate, and managed to eliminate 2.8 billion euros of debt for $600 million in rewards. But in reality, debt is not really gone, but is transferred into the future, waiting for the recession to come to light. Goldman Sachs also bought a "credit default swap" in Germany, in which German insurers will fully compensate Goldman Sachs if Greece is unable to pay its debts. Goldman Sachs also began buying Greek CDS on a large scale in preparation for shorting Greece. In 2009, the Greek debt crisis broke out, Goldman Sachs took the opportunity to sell CDS, causing the European stock market to collapse, and the euro exchange rate to fall, triggering the European debt crisis. Goldman Sachs has such a presence in Europe that it has become a mystery.
02 Huge network
Goldman Sachs began to deploy Europe as early as the 80s of the 20th century, cultivate management, and instill the "Goldman Sachs culture". These people became key players in Goldman's global presence. Former Italian Prime Minister Monti, European Commission President Prodi Prodi, European Central Bank President Mario Draghi, former World Bank President Robert Zellick, former Bank of England President Carney and others all have close ties with Goldman Sachs. Rumors inside Goldman Sachs that Blackfen could contact European leaders at any time. How did Goldman Sachs become an important part of government-business exchanges?
03 Bind to the White House
In 1907, at the age of 16, Sidney Weinberg became a cleaner at Goldman Sachs. Weinberg advanced his education through the support of Goldman Sachs partner Paul Sachs. During the Great Depression, Weinberg began a series of high-profile actions, supporting Roosevelt's campaign and establishing a business advisory planning committee to raise Goldman Sachs' status to new heights. Goldman Sachs then further expanded political and business exchanges, making Goldman Sachs and the White House close.
04 Revolving doors for politics and business
After 1933, Goldman Sachs entered the era of "revolving doors between politics and business". Company executives entered the government and formed a rotating relationship with Goldman Sachs. Goldman Sachs has produced 4 Treasury Secretaries, 4 Fed Regional Chairs, more than 10 senior economic advisers and many other important positions. This connection is not limited to the United States, but also covers the international scope. This makes Goldman Sachs a close intertwining of politics and finance, such as Paulson, Lu Bin, Carney, etc. have all shuttled between the government and Goldman Sachs.
05 Ignite the crisis
Goldman Sachs has been involved in all kinds of crises, from the Latin American economic crisis to the Asian financial crisis to the 2000 Internet bubble. Even in the early days of the subprime mortgage crisis, Goldman Sachs packaged the riskiest mortgages into investment products while achieving the highest AAA ratings, and then sold them publicly while betting against customers. Goldman Sachs made a fortune in the subprime mortgage crisis, and Goldman Sachs has hardly been held legally responsible for the direct consequences of this crisis.
06 Project Hank
Goldman Sachs' layout in China began in 1994, but the official start came in 1998, when Guangdong window company Guangdong Hai became insolvent, Goldman Sachs offered to restructure its debt. Goldman Sachs has a deep understanding of the Chinese economy, frequently visits China, and makes critical connections. In 2001, Hainan Securities faced a huge bad debt problem, Goldman Sachs came forward to solve it, and founded "Goldman Sachs Gaohua", in fact, Goldman Sachs held the vast majority of the right to speak. This series of actions formed Goldman Sachs' internal "China Landing Plan", codenamed "Hanke". Goldman Sachs also passed
09 The temptation of money
Goldman Sachs is a financial institution, and money is undoubtedly the biggest lure for this institution. From its inception, Goldman Sachs has regarded the pursuit of profit as its way of survival. However, this is not just Goldman Sachs' business philosophy, but a common phenomenon in the financial world. The nature of this industry is the pursuit of profit, but the problem is that when money is the only pursuit, morality and ethics are often put on the back burner. This trend has also affected Goldman Sachs.
10 Risks and Opportunities
In the financial world, risk and opportunity are often closely linked. Goldman Sachs is not just a financial magnate, it's also a risk-taker. The company's history is full of adventures and battles. However, this risk involves not only the companies themselves, but the entire financial system and the global economy. Goldman's decisions and actions often have far-reaching consequences, shaping not only the company's fortunes, but also the direction of the world.
11 Goldman Sachs' Responsibilities
As a global financial institution, Goldman Sachs has enormous influence. However, with increased influence comes greater responsibility. Goldman Sachs is responsible not only for its own interests, but also for investors, clients and the financial markets as a whole. At the same time, as a multinational company, Goldman Sachs also needs to assume social and environmental responsibility. How to balance these responsibilities will be a serious challenge for Goldman Sachs and other similar financial institutions.
12 The future Goldman Sachs
Goldman Sachs, as a long-established financial institution, faces numerous challenges and opportunities. In the future, Goldman Sachs will need to constantly adapt to the changing financial environment, while also rethinking its own behavior and decisions. How to remain competitive without losing morality and ethics will be key to Goldman's future growth. This is also a question that the entire financial community needs to think about, because finance is not only about chasing profits, but also about taking responsibility and shaping the future.
summary
Goldman Sachs has a history full of glory and controversy as a global financial giant. The company's success and wealth accumulation are remarkable, but they are also accompanied by many controversies and ethical dilemmas. Goldman's story reflects the complexity of the financial world, the lure of money, the game of risk and opportunity, and the importance of responsibility. In the future, Goldman Sachs will face many challenges, including regulatory, social responsibility and ethical tests. It is also a reminder that finance is not only a means to make money, but also a force to assume important responsibilities and shape the future.
Revelation:
Goldman Sachs, as a global financial giant, has revealed many important truths in the financial world. Here are some revelations:
Pros and Cons of Financial Innovation: Goldman's operations in the subprime mortgage crisis demonstrated both sides of financial innovation. While innovation can drive markets, it can also lead to a build-up of risks that affect the entire economic system.
The complexity of government-business relations: Goldman Sachs has benefited greatly from its close interaction with the government. This highlights the importance of government-business relationships in the financial world, but also raises ethical and compliance concerns.
Greed and morality: Goldman's actions raise questions about greed and moral hazard. Whether financial giants should pay more attention to social responsibility and ethics is an important question.
The global nature of finance: Goldman Sachs' operations span the globe and demonstrate the global interconnectedness of financial markets. Financial institutions must understand and adapt to the risks and opportunities in global markets.
Summary:
Goldman Sachs as a financial empire, its rise and behavior reflect the multiple complexities of the financial sector. From backstabbing Europe to building a vast network, from tying up the White House to detonating crises, Goldman's story showcases the intrigue, government-business relationships and global influence in the financial world.
Goldman Sachs' experience tells us that financial innovation is a double-edged sword that needs to be carefully managed to prevent the accumulation of undue risk. Public-business relationships often play a key role in finance, but transparency and ethics are needed to protect the public interest. Greed and moral hazard are topics worth pondering, and financial institutions need to pay more attention to social responsibility. Finally, the global interconnectedness of financial markets makes risk transmission more complex and requires better risk management and regulation.
Goldman's story is part of the financial world, but it is also a revealing reminder to examine the ethics and responsibilities of the financial sector and the interconnectedness of global financial markets. We should learn from this and promote more sustainable and responsible development in the financial sector.
In addition, Goldman Sachs' story highlights competition and power struggles in global financial markets. In the highly competitive financial industry, companies like Goldman Sachs have adopted complex strategies to gain market share and maximize profits. This shows that competitors in the financial sector must constantly innovate, adapt to market changes, and establish effective risk management systems to cope with the rapidly changing economic environment.
Goldman's history also underscores the need for regulation. Financial markets need strong regulators to ensure transparency and fairness in the market to prevent abuse of power and misconduct. Inadequate regulation can lead to a financial crisis that affects the entire economic system. Therefore, governments and regulators must work closely together to maintain the stability and sustainability of financial markets.
Finally, Goldman's story reminds us that success and influence in the financial industry are inextricably linked to ethical and social responsibility. Financial institutions should not only focus on shareholder value, but also assume broader social responsibility. This includes ensuring universal access to financial services, helping society meet economic challenges, and actively participating in social improvement efforts.
All in all, Goldman Sachs as a financial empire, its story is full of inspiration, covering financial innovation, government-business relations, competition and regulation. These revelations are important for shaping the future of the financial industry and ensuring the health of the economy. We must protect the public interest while maintaining market vitality and commit to a more responsible and sustainable financial ecosystem.
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