According to MarketWatch it is the ultimate money-making machine. The Machiavelli of the markets. The firm with the Midas touch, a tame stooge in every central bank and government, and the ability to play both sides of every deal — and get away with it. That, anyway, is the popular image of Goldman Sachs GS -2.18% .
The markets’ insiders, however, take a different view. To at least one of Europe’s largest hedge funds, it is a dog of a company — a business with about as much future as a typewriter manufacturer. The hedge funds don’t always get everything right. Their reputation for infallibility is as suspect as anyone else’s. But they are making the right call this time. In fact, it is not just Goldman. The entire investment banking industry looks to be facing its greatest challenges in a generation.
Financial innovation has rolled over and died. Regulations are finally starting to bite into profitability. And, most importantly of all…..
Read more at http://www.marketwatch.com/story/time-to-dump-goldman-and-other-investment-banks-2011-08-03
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