Biggest Bank of the Land Now Promises to Be "More Open"
From New York Times' Dealbook:
"In a 63-page report on Tuesday, Goldman listed 39 ways to amend its business practices — changes largely aimed at bolstering internal controls and disclosure.
Goldman is trying to rehabilitate its public image, which has taken a beating since the financial crisis and its aftermath. The greater detail is intended as a response to criticism that Goldman has put its own interests ahead of those of clients.
Goldman clients have complained that “in some circumstances the firm weighs its interests and short-term incentives too heavily,” the report said.
The report proposes to break down what Goldman sees as its responsibilities, depending on the role it is performing for a client.
The bank also plans to offer investors additional..."