Goldman Sachs at a critical turning point
Are we at an inflection point for Goldman Sachs? While executives maintain there has not been a secular change in demand such that an all-new business model is necessary, there are plenty of reasons to think that the industry has been meaningfully altered. The rise of the Dodd-Frank era just might constrain the bank in profound ways; we really don't know yet. It may be stronger business in core activities like investment banking will be enough to get the bank on steep growth curve, but will that outweigh revenue lost to new rules? We'll just have to wait and see. Article
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