Finally we hear from a customer who did not trust Goldman Sachs. Washington Mutual (WaMu) had concerns about asking for their advice on subprime mortgages. The WaMu CEO described it as “swimming with the sharks”. They could be singing your praises at a meeting and selling you short back at the office. If I was a banker, I wouldn’t trust Goldman Sachs to walk my dog.
When Wamu was sinking in debt
The thought to use Goldman was met
With vexing suspicion
Because their position
On both sides was seen as a bet.