Analysis of Financial Crisis Influence on the Investment Banks of Wall Street

Taking Goldman Sachs as an example

DOI

10.2991/aebmr.k.220405.158How to use a DOI?

Keywords

2008 Financial Crisis; investment banks; Goldman Sachs

Abstract

The 2008 Financial Crisis was one of the most severe events in the history of the US. It was an epic financial and economic collapse that cost many ordinary people their jobs, life savings, and homes. Everyone in the world may believe that the crisis damaged the investment banks of Wall Street badly because of the bankruptcy of Bear Stearns, Lehman Brothers, and other small banks. Still, this theory needs quantitative analysis to support it. This paper focuses on the significant investments in the US before the Financial Crisis. It uses the financial statements and financial ratios analysis of Goldman Sachs to determine how the actual influence of the financial crisis brings to Wall Street Giants. The research data used in this paper are from the official financial reports from the banks and some previous research which have similar topics. his study found that even though the investment bank giants indeed had a hard time during the financial crisis, they also got many benefits from the situation, which means it is challenging to think whether the financial crisis damaged the investment bank or benefited them. The paper is meaningful to remind people to regulate the investment banks and avoid the similar tragedy occur in the future.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Yue Yao
PY  - 2022
DA  - 2022/04/29
TI  - Analysis of Financial Crisis Influence on the Investment Banks of Wall Street
BT  - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
PB  - Atlantis Press
SP  - 950
EP  - 954
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220405.158
DO  - 10.2991/aebmr.k.220405.158
ID  - Yao2022
ER  -