CNBC Originals Season 2 Episode 17 Goldman Sachs: Power and Peril

Goldman Sachs is one of the most powerful and controversial financial institutions in history. This episode of CNBC Originals takes an in-depth look at the inner workings of the firm and examines its role in the 2008 financial crisis.

The episode begins with a brief history of Goldman Sachs, tracing its roots back to its founding in 1869. Viewers will learn about the firm's early years and its evolution into a global powerhouse in the 20th century. The episode also provides a glimpse into the culture at Goldman Sachs, with interviews from former employees who describe the intense pressure and competition at the firm.

The heart of the episode focuses on Goldman Sachs' involvement in the 2008 financial crisis. Viewers will learn about the firm's role in the subprime mortgage market and the creation of complex financial instruments such as collateralized debt obligations (CDOs). The episode explains how these instruments contributed to the collapse of several financial institutions and the subsequent government bailout.

The episode features interviews with several key players in the crisis, including former Treasury Secretary Hank Paulson and former Goldman Sachs CEO Lloyd Blankfein. These interviews provide important insights into the decisions that were made during the crisis and the motivations of the individuals involved.

Throughout the episode, the viewer is presented with various perspectives on Goldman Sachs and its role in the financial system. Some commentators criticize the firm for its outsized influence and its perceived lack of ethics, while others defend the firm as a necessary player in the global economy.

One of the most intriguing aspects of the episode is the exploration of the so-called "Goldman Sachs Connection." This term refers to the notion that former employees of the firm hold prominent positions in government and other powerful institutions. The episode examines this phenomenon and speculates on its implications for the future.

Overall, this episode of CNBC Originals is a comprehensive and informative look at one of the most iconic and controversial firms in the financial world. Viewers will come away with a deeper understanding of the role that Goldman Sachs plays in the global economy and the complex issues surrounding its operations.