Conclusion
Lessons
CERTAIN RESIDUAL ELEMENTS OF GOLDMAN’S CULTURE WILL continue to fight organizational drift. But the drift will likely continue, and possibly will accelerate, given the continuing competitive, organizational, technological, and regulatory pressures the firm faces. Goldman’s response to these pressures will most likely continue to be the pursuit of growth. In that pursuit, Goldman will be challenged by the law of large numbers. It most likely will continue to occasionally cross regulatory or legal lines as it negotiates what its principles mean and what is legal. As the firm gets closer to this line, at the very least its ethics will continually be questioned in part because of how the firm portrays itself and its principles. ...
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