Reputation Management Online

Financial newbies anywhere would debate enthusiastically that Goldman Sach remains the most sublime commercial financial institution in the world. Most aspirant bankers would jump in to be associated with the firm as it remains the goal for many.

But for how long are they going to ride this much-believed wave? Till the banks carried on to make huge profits and assisted in economic growth, nobody questioned its intentions. But once the cards came crashing down in 2008, Goldman was first in the dismissal line.

Goldman Sach is under fire and struggling to protect its reputation, which has taken years of inexhaustible effort.  This latest virtually damaging report alleges ‘Goldman Sachs accumulated $2.9 billion from AIG as bailout that actually landed in its own coffer at the expense of the taxpayers. The story has placed the toughest blow to its reputation in the recent times.

Earlier, questions were raised about Goldman’s role in the US government’s bail-out of insurance giant AIG in 2008. We knew without the bail-out of the insurer (owing Goldman a vast sum of money) the company would have struggled.

Goldman symbolizes the power and over-the-top lucrative abilities of Wall Street after the insurance company had been bailed out by the government.

Yes Goldman perhaps under deceitful pretensions has let the market lose faith. In our previous post we did mentioned that Goldman needs Reputation Management.  Now exactly how would they help themselves to restore faith of its stakeholders is the big question.

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