Bloomberg offers the best analysis yet of how Goldman Sachs has fared in the credit crunch. In the end, not even the gilded firm that bet so astutely on the subprime debacle was spared. It was essentially forced to recreate itself as an investment bank. The article offers some nice color on the top executives sleeping in the office as they decided the fate of the company. The big question is how will it fare in the new era? It will need to build a deposit base, obviously. It may soon be in the market to buy up a few banks, though I have trouble seeing it as a retail presence. You have to wonder about its future once it can no longer make the proprietary bets--and a trading and principle basis--that it was so known for. There are a lot of question marks, but all agree an era has ended.

For more:
- here's the Bloomberg article

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