Goldman Sachs - Company that Ruled the World | important historical milestones

Goldman Sachs is known as an American multinational investment bank and financial services company. Goldman Sachs was founded in 1989. It started as a financial business buying and selling commercial papers; Goldman Sachs is now one of the largest financial institutions in the world.
This video below is the milestone development of Goldman Sachs and how it rules the world. .
In 1869 Goldman Sachs was founded by Marcus Goldman in New York City. At the time, Goldman Sachs bought and sold commercial papers. That was the beginning of the investment banking industry.

In 1906 Goldman Sachs cooperated with Lehman Brothers for underwriting 30 million dollars of Common Stocks and 10 million dollars of preferred stocks for Sears. They collected an unprecedented fee from the deal. Many companies became their clients.

In 1914, Goldman Sachs had become a well-known investment bank on Wall Street. In the meantime, It issued the stock and sold it for ten times the price, earning an investment of 93 million dollars.

In1929, The Great Depression occurred; Goldman Sachs was reduced almost to nothing, and hundreds of millions of dollars were evaporated. But It overcame difficulties by Sydney Weinberg.

In 1950, A significant breakthrough came in the 1950s when Goldman Sachs was allowed to underwrite the IPO of Ford Motor Company. After GE and Fort Motors' IPO, Goldman Sachs became one of Wall Street's most profitable investment banks.

In 1970: Goldman Sachs underwrote 100 million dollars in commercial papers for Penn Central - the country's largest railroad company. But at that time, Penn Central was owed billions of dollars and had difficulty operating. When Penn Central went bankrupt, More securities that Goldman Sachs issued were getting worse, and it was constantly being forced to pay millions of dollars.

John Whitehead was the guy who turned Goldman Sachs around. He started to standardize the investment banking business. And he restored the trustworthiness of their clients. In 1983 under the leadership of John Whitehead, Goldman Sachs makes $400 million in profit, a 60% increase from the previous year.

In 1987: Goldman Sachs's reputation was affected by insider trading.
By 1993, Goldman Sachs made $2.7 billion in profit, a large part of it coming from trading.

By 1997, Paulson was firmly installed as the leader after bringing $3 billion pretax income for the year.

In 1998 the so-called Black Swan event happened. In a single day, Long term Capital Management lost $353 million. Goldman Sachs immediately started dumping its bond positions into the market, accelerating LTM's downfall. But ultimately, the Fed came in, bailed out LTM, and saved Goldman Sachs.

At the end of 1999, Goldman Sachs's initial public offering, the IPO of Coleman Sachs, went public and brought 3.7 billion dollars to go public. In the 5 years before 1998, Goldman had made a pretax profit of $12.2 billion.

By the start of 2000, a new business is booming mortgage-backed securities. In two years from 2005, Goldman Sachs underwrote about $203 billion of mortgage-backed securities. The mortgage meltdown occurred, Goldman Sachs was among the most vulnerable firms on Wall Street. And Warren Buffett's investment gives Goldman Sachs some breathing room.

By 2018, America finds itself on the precipice of another booming market driven by retail investors Goldman Sachs sees this as a new opportunity to cash in.

2020 has seen the rise of the retail investor, and now Goldman Sachs, The Firm known for catering to the rich, is preparing to offer wealth management for the masses.

Timestamp of video
0:00 – founded and traded commercial papers
2:40– IPO and become a well-known investment bank on Wall Street
6:25 – The Great Depression
8:40 – Ford was biggest IPO in History
13:30 – Goldman Sachs made mistake
16:45 - John Whitehead turned Goldman Sachs around
20: 40 - insider trading
22:45 – Big Profit from trading
25:25 - Black Swan event
27:50 – Goldman Sachs's initial public offering.30:20 – the mortgage meltdown
32:35 – conclusion

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