How Goldman Sachs Failed At Consumer Banking

Saying the name out loud conjures images of Ivy League-educated investment bankers in tailored suits managing money for the wealthiest of the wealthy. Or closing deals in high-rise corporate offices. Advising the wealthiest of the wealthy. Navigating the corridors of power across the world’s financial capitals — New York, London, Singapore. So, why did Goldman Sachs — the 150-year-old investment bank — try to get into checking accounts and credit cards? And, what’s more, how did Goldman Sachs’ fail at that? Watch the video above to find out more. Chapters: 00:00 — Introduction 01:13 — Introducing Marcus 03:31 — Goldman’s trouble with consumer banking 05:29 — What went wrong? 07:04 — What’s next? Produced by Jeff Morganteen Reporting by Hugh Son Edited by Dennis Donovan Graphics by Mallory Brangan Narrated by Jordan Smith