Investment banks are increasingly using their own balance sheets to extend credit to clients, to assume market risk on their behalf and sometimes to co-invest alongside them. Investment banking serves as the main initial point of contact with all of Goldman Sachs for our clients.
More Quotes from Henry Paulson:
Weakness in the capital markets, compounded by an erosion of corporate and investor confidence, has depressed activity in a number of our most important businesses, ... While we have seen some encouraging economic data of late, the current environment remains very challenging.Henry Paulson
This action also will meet a fundamental objective of the partners -- to share ownership benefits and responsibilities more broadly among all of the firm's employees.
Henry Paulson
I think the danger is to just look through that lens, to lose a sense of perspective and rush toward harsh regulations that are unnecessary. Some regulation will be necessary, some changes in accounting rules.
Henry Paulson
We've all got to work to restore business confidence...but I believe that longer term we may look at Enron as being a positive as opposed to a negative, ... It may lead to greater transparency.
Henry Paulson
I think all of us know that what we went through in the last half of the Nineties is not sustainable. We're going to need to adjust ourselves to a period of more normal growth. How we think about managing our businesses in that environment is the tricky question we're all grappling with.
Henry Paulson
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