Goldman right, Merrills wrong

Many predictions were made for the internet - it would revolutionise productivity, overthrow the old industrial order, allow everyone to work from home, and so on. Nobody predicted that it would bring ethics to the investment banking industry, an arena of endeavour so far largely untouched by philosophical considerations. Right now that looks to be one of its main consequences ' which just goes to show what unpredictable stuff new technology is. After the new economy's boom and bust, and more particularly in the face of lawsuits and investigations, the big global investment banks are tr...