Solyndra Failure Hits Goldman’s Reputation: William D. Cohan
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Since the financial crisis hit, investment banks have been rightly criticized for their tendency to be more concerned with their own trading profits than the well-being of their customers. Sometimes, however, an investment bank can take the whole client service thing a bit too far.
Take, for instance, the case of Goldman Sachs Group Inc. and its client Solyndra LLC, the California-based solar-panel maker that filed for bankruptcy protection on Sept. 6 and dismissed its 1,100 employees.