Wouldn’t Goldman Sachs be part of many stock portfolios including mutual funds which millions of Americans have?
Fair question. Fund portfolios with investments in banking equities, sure. With Goldman stock sitting at $152-plus per share, individual stock holdings, not so much.
The point is, lots of people have holdings and loans with big investment banks in New York and elsewhere, including Ted Cruz and Donald Trump. That doesn’t make any of them criminals, even Ted Cruz.
As I’ve said in other posts, there isn’t a single big investment bank licensed to operate in the US that hasn’t been investigated, indicted or paid a major fine for something. If you doubt it, Google “largest investment banks in the US” and add “indictment investigation” or “fine” and you will see for yourself. Some of the biggest, most important investigations, indictments and fines for money laundering and fraud aren’t even public.
Try it even with your own bank. You’ll be surprised.