Another Blow to GS reputation and this time its over the pond here in the UK. Just when GS thought that the fines drama was over by settling with the SEC, it finds itself forking out another 20m to the FSA. It's not the financial impact to the firm that will worry stakeholders but the damage to its reputation. It's share price already trading at a heavy discount compared to last years hight of 192 this years high is just 149.66. This latest development may renew calls for the CEO to step down. Which he has successfully dogged so far. Goldmans not out of the woods yet. It might still be the most prestigious IB in the world but its share price doesn't seem to reflect that.
Thursday, 9 September 2010
BBC News - Wall Street giant Goldman Sachs fined �20m by UK's FSA
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