Do you not know about the subprime mortgage product they sold ? It was notable in that it was designed to fail i.e they defrauded investors
see:
http://fortune.com/2016/04/11/goldman-sachs-doj-settlement/
http://www.washingtonpost.com/wp-dyn/content/article/2010/07...
http://content.time.com/time/magazine/article/0,9171,1983886...
>"They are probably the most respected bank on Wall St"
Respected by who exactly? Other investment banks constantly mired in their own scandals and white collar crime.
Here's some other Goldman highlights:
https://en.wikipedia.org/wiki/Goldman_Sachs_controversies