WASHINGTON, June 4 (UPI) -- The nomination of Goldman Sachs chairman Henry Paulson Jr. as U.S. treasury secretary shows the company's growing global influence, it was reported.
The current Chief of Staff, chief operating officer of the New York Stock Exchange, and governor of New Jersey are also alumni of Goldman Sachs, The Los Angeles Times reported.
A superpower in the business world, Goldman Sachs boasts 40 percent profit margins and increasing share prices. Focusing primarily on investment banking and trading, Goldman Sachs is a company built through pragmatism and not through politics. the Times reported.
With the nomination of Paulson, the Times reports, President George W. Bush is acknowledging the changing economic landscape of the world and helping the United States adjust to it.
