October 21, 2011
It's been a rough year for our leading financial institutions. Large companies such as Bank of America (NYSE: BAC ) , Citigroup (NYSE: C ) , Wells Fargo (NYSE: WFC ) , and JPMorgan Chase (NYSE: JPM ) are down significantly for the year. And the public no longer seems to trust these companies any longer.
Perhaps no company has been demonized more than Goldman Sachs (NYSE: GS ) , and its stock price has struggled mightily since its recent high in the fall of 2009. Since then, its shares are down more than 40 percentage points.
One could argue that Goldman's reputation has suffered an even greater beating during that time. Overall, the past three years since the beginning of the financial crisis have been an extremely tumultuous time for this iconic bank. Among other things, Goldman Sachs has been:
- bailed out by the government.
- described as a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
- sued by the SEC.
To keep track of all of the events surrounding this notorious company, we've created a special infographic:
Goldman's bad run continued this week, when it reported a very rare quarterly loss -- it was only its second loss since it went public back in 1999. Did this loss represent an unlucky quarter or a troubling sign of serious business challenges ahead?
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