Goldman Sachs Group Inc. is a bank holding company and global investment banking, securities and investment management firm based in New York. Long a dominant Wall Street commodity dealer, it also is a big player in trading, merchant banking and asset management. The legendary investment bank transformed itself into a bank-holding company after the 2008 Lehman collapse to gain access to TARP cash reserves, but it repaid the $10 billion it received.

The bank came through the credit crisis in better shape than most firms, prompting what be seen as a mini industry in Goldman conspiracies, perhaps best crystalized in Rolling Stone magazine's now-famous characterization of the firm as "a great vampire squid wrapped around the face of humanity." The firm has come under withering criticism for its pay policies and perceived arrogance, according to The Wall Street Journal. But it also made $500 million in charitable contributions in 2009. In becoming a bank-holding company, Goldman is expected to take fewer risks, putting limits on leverage and some of the strategies that had once reaped handsome profits for the company such as trading, merchant banking and commodities. The company is planning to start an Internet bank.

Goldman's much-vaunted culture is marked by competition, a strong work ethic and teamwork. And top results have meant supersize bonuses and top pay for the industry. The bank is reportedly planning to pay record bonuses in 2009. Goldman cut 10% of its staff in 2008.

Few firms can boast Goldman's glittering alumni roster. Among the more notable names: former U.S. Treasury secretaries Henry Paulson and Robert Rubin, New Jersey Gov. Jon Corzine, former Merrill head John Thain, and TheStreet.com founder Jim Cramer. The company is increasingly sensitive to criticism about receiving favoritism in the federal bank rescue, particularly from Paulson, prompting some detractors to refer to it derisively as "Government Sachs."