Suddenly, Goldman Is Less Golden

After brokering a string of troubled deals, the firm is facing criticism from investors

Goldman, Sachs & Co. has had an enviable run of good fortune. The Wall Street powerhouse brokered a record number of global mergers during the past three months and won 60 mandates to underwrite initial public offerings worth nearly $11 billion--more than any of its rivals. But even as top execs celebrated their success, some of the firm's high-profile deals were going awry.

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