The story is just one of many the media stories published about Goldman Sachs this year.
For the third time in a row, the investment bank was mentioned more than any other Wall Street firm by global media outlets this year, according to a study by HighBeam Research, cited in DealBook. Goldman netted nearly 16 percent of all media mentions of Wall Street firms during the first 10 months of 2011, followed by HSBC, Deutche Bank and Morgan Stanley, the survey found.
With so much controversy surrounding the financial industry, Goldman's top ranking may not be such a good thing for the investment bank. Goldman may have received the bulk of media mentions because it's often targeted as a major symbol of Wall Street's worst tendencies.
Regardless of reputation, Goldman has been associated with some notable media stories this year. A former director at the investment bank, Rajat Gupta surrendered last month in a high-profile insider trading case. The bank also suffered its second loss ever as a public company last quarter, posting a total revenue decline of 60 percent since the same period last year.
Jon Corzine, former CEO of MF Global -- the securities firm that's come under scrutiny after filling for bankruptcy -- also used to head Goldman.
Another big story that may have boosted Goldman's presence in the media: Occupy Wall Street. The investment bank reportedly told its employees last month to stay away from the protests in Zuccotti Park. In addition, Goldman dropped out of backing and attending a credit union fundraiser after finding out that Occupy Wall Street would be an honoree.
Coverage of the Occupy movement reached the same level as that of the Tea Party in early October, according to a study by the Pew Research Center cited in The New York Times. In addition, the protests took up 7 percent of national media coverage during the first week of October.
Though Goldman ranked number one of Wall Street firms in mentions in traditional media, another bank has been getting slammed on social media recently. Eighty-seven percent of Bank of America mentions on social media in the past year were negative, according to Marketwire.
BofA was roundly criticized by consumers and law makers after announcing that it would charge customers $5 per month to use their debit cards starting in 2012. The bank ultimately back-tracked from the fee earlier this month.
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