10 Companies with Terrible Reputations

Goldman Sachs

The pitiable reputation for Goldman Sachs was cemented when it was sued by the government for fraud in 2010. The firm made a settlement with the government for $550 million, but this was sighted as little more than a slap on the wrist because of the bank’s huge wealth. And the fraud allegation has not come to an end; they have in fact picked up the pace. Goldman faced a set of suits over mortgage instruments it sold worth a total of $15.8 billion. Goldman was accused the Federal Housing Finance Agency in September for misrepresenting the quality of $11.1 billion worth of residential mortgage-backed securities. In the cases in which Goldman has settled claims, the press has not always been positive. Goldman agreed to forgive 25 percent of principal balances on 143 mortgage loans to borrowers in New York, or $13 million of a total principal balance of $52 million according to a Wall Street Journal report.