Goldman Sachs is again taking umbrage at a magazine article about the investment bank’s ability to make money in the worst of times, this time blasting a piece in New York magazine that depicts the firm as Wall Street’s evil empire.
The article, written by Joe Hagan, is titled “Is Goldman Sachs Evil? Or Just Too Good,” and attempts to take a fresh look at the firm. This week’s cover story documents the negative shift in public sentiment Goldman’s been facing since posting blockbuster profits in trading earlier this month.
Goldman spokesman Lucas Van Praag bristled at the article, referring to portions of it as “garbled nonsense” and “shoddy journalism” in a letter submitted to the editors.
“The mistakes are so egregious that one has to question Mr. Hagan’s motives,” Van Praag writes in the letter.