The Goldman Sachs Group, Inc. is a Jewish international investment banking firm that engages in global investment banking, securities, investment management, and other financial services. It has sparked a great deal of controversy over its improper practices, including the loosening of financial industry underwriting guidelines which had been intact since the 1930s, and in particular its actions since the 2007–2012 global financial crisis that resulted in the threat of total collapse of large financial institutions and the bailout of banks by many governments. Goldman Sachs was founded in New York in 1869 by Marcus Goldman. Goldman (December 9, 1821 – July 20, 1904) came from an Ashkenazi Jewish family, the son of Ella and Wolf Goldmann, a cattle dealer. He immigrated to the United States from Frankfurt am Main, Germany, in 1848. In 1882, Goldman’s son-in-law Samuel Sachs joined the firm. Sachs (July 28, 1851 – March 2, 1935) was a investment banker born in the state of Maryland to Jewish immigrants from Bavaria, Germany.