Modeling Journey

Take a good look at this man. He is Lloyd Blankfein: chairman and CEO of Goldman Sachs.

And what does he do? In his words (November 2009 interview with The Sunday Times of London):

He is, he says, just a banker "doing God’s work".

And now the SEC has laid a civil charge of fraud against Goldman Sachs for structuring a deal for one client, being paid a fee, selling derivative instruments to other clients, and having the first client bet that the derivatives will fail.

Let's start at the beginning.

Just who is Goldman Sachs?

This is The Sunday Times journalist's description of the venerable US investment bank, based at 85 Broad Street, New York:

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