Goldman Sachs Stung By Backlash in China
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Goldman Sachs Stung By Backlash in China
By: Jamil Anderlini
Public criticism of Goldman Sachs has come to China, where the investment bank has been lambasted in articles in state-controlled media.
Parts of the media, apparently emboldened by congressional inquiries and public anger in the west, have openly slated Goldman [GS 137.04 -1.64 (-1.18%) ] , arguably the most successful foreign investment bank in China.
“Many people believe Goldman Sachs, which goes around the Chinese market slurping gold and sucking silver, may have, using all kinds of deals, created even bigger losses for Chinese companies and investors than it did with its fraudulent actions in the U.S.,” read the opening lines of an article in the China Youth Daily, a state-owned daily newspaper, last week.
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