American banks like Goldman are not known for taking principled stands when money is at stake. Russia’s pariah status after the invasion of Ukraine presents them with a new dilemma, writes johnsfoley:
Russian President Vladimir Putin attends a meeting with the head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin in Moscow, Russia March 2, 2022.
could have bailed on Russia when the government defaulted on its debts at the turn of the century, buried under borrowings Goldman had helped it rack up. Instead, it stuck around, at least nominally. Now, Russia’s pariah status after President Vladimir Putin's invasion of Ukraine presents Goldman chief David Solomon and his Wall Street peers with a new dilemma. They're not known for taking principled stands, but this could be the moment.
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