Have Goldman Sachs focused on their operational risks to the exclusion of all else, to the extent that their destruction is now politically convenient in the current US climate, and what tools could be used to achieve that end? I began, two weeks ago, by writing a blog entitled “Has Goldman Sachs caught the Blackwater Disease?” However, the more I explored the issue, the more I believe that the implications stretch wider. While I am not a fan of the concept of the “Perfect Storm,” I do believe Goldman Sachs has ignored non-financial risks at their peril. This blog is not a reflection on whether Goldman Sachs are good, bad or indifferent; it is a reflection upon how disregarding all risks can create the conditions to destroy a company, just when that company appears to be at the top of its game.