Goldman's "Social License": How the firm has endangered its most valuable intangible asset.

Date: Monday, May 3, 2010
Author: Slate.com

It's been a bad week or two for Goldman Sachs. On April 16, the Securities and Exchange Commission charged the firm with fraud for the way it structured and sold some junky mortgage-related products. Earlier this week, its top executives came off as responsibility-evading jerks when testifying before Congress. And then on Thursday, the Wall Street Journal reported that the SEC had referred Goldman's case to the Justice Department.

I'd argue that Goldman is entering dangerous territory. The firm is in danger of losing what may be its most valuable asset: its social license.