Goldman Sachs could be headed toward first loss since financial crisis
Even Goldman Sachs, the well-known investment bank, now could be headed toward recording its second quarterly loss in a dozen years -- its first quarterly loss since the financial crisis -- according to a report in The Wall Street Journal.
Michael Lewis believes Goldman Sachs will be unable to recover from the SEC case and its disastrous PR. ``This is a prediction that is going to come back and haunt me, he told CityAM, ``but I think that Goldman Sachs is doomed.`` ''I don't think that in its current form it can survive,`` he continued. ''We could be looking at four to five years, but the proprietary activities will split off, those people will end up in their own hedge fund -- that is if new regulation doesn't forbid it anyway.''