FierceFinanceFierceFinanceITFierceCompliance IT   FierceCIO

Rolling Stone rolls Goldman Sachs

Tools
Tags
Rolling Stone
Pr
Housing Bubble
Goldman Sachs
Conspiracy Theories

It would be easy to dismiss the now infamous article in Rolling Stone about Goldman Sachs as the "Great American Bubble Machine." The bank was correct to some extent in labeling the article a compilation of the many conspiracy theories about the bank. But the problem for the PR folks is that the article--if only news of the article--has spread like wildfire across the universe. At a minimum, it generated buzz.

Here's what Time has to say about it: "It's great stuff. And it's the kind of stuff you want to read at a time when we are still smarting from the one-two combo of the housing bubble and the credit crunch. Unless, of course, you are Goldman Sachs (or one of its hopeful shareholders)."

The article even quotes a former Wall Street Journal article repeating a memorable line: "For the record, I don't think any article that contains the line 'vampire squid sucking the face of humanity' is real journalism." Time counters: "But to call it not real journalism or lacking substance is wrong. There are plenty of facts to back up the case that Goldman generates large profits by taking advantage of others." So this is a yet another PR challenge for the firm, which is used to them. 

For more:
- here's the article

Related Articles:
Goldman Sachs, "the heart of darkness?"
Software programmer steals from Goldman Sachs?
Big banks get bigger in key markets
And the league table winner is...

Bookmark and Share
Get Your FREE FierceFinance Email Newsletter:
Comments (2) | Post a comment

Comments

“Don’t purchase items you cant afford and save for a rainy day”. If the American consumer followed that simple saying Goldman or any other
investment bank would not have been in a position to gain from last years economic collapse nor any other time in history. Good article.

Conspiracy Theories? Look at who's running Washington and where they come from, and who benefits from their decisions. The only reason it's not a conspiracy is that it's not done in secret. It's done right in front of us and we're all too complicit or stupid to see it for what it is. Thank you Rolling Stone and Matt Taibbi.

Post new comment

The content of this field is kept private and will not be shown publicly.

More information about formatting options

To combat spam, please enter the code in the image.