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investment of Goldman Sachs Inc

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investment of Goldman Sachs Inc

by vipulgoyal » Thu Mar 05, 2015 3:45 pm
Before its bankruptcy in 2008, Goldman Sachs Inc. financed Crystal Technologies, a tech company, as a venture capital investment and they would withdrew all their funding only after a long and comprehensive analysis of the bankrupt tech company's account books.

A) Before its bankruptcy in 2008, Goldman Sachs Inc. financed Crystal Technologies, a tech company, as a venture capital investment and they would withdraw all its funding
B) Before its bankruptcy in 2008, Goldman Sachs Inc. had financed Crystal Technologies, a tech company, as a venture capital investment and withdrew all its funding
C) Before its bankruptcy in 2008, Crystal Technologies, a tech company, had been financed by Goldman Sachs Inc. as a venture capital investment and the investor withdrew all its funding
D) Before its bankruptcy in 2008, Crystal Technologies, a tech company, was financed as a venture capital investment by Goldman Sachs Inc., which withdrew all its funding
E) Before its bankruptcy in 2008, Crystal Technologies, a tech company, was a venture capital investment of Goldman Sachs Inc. , who withdrew all its funding


OE says , my query , why not
(B) Before its bankruptcy in 2008, Goldman Sachs Inc. had financed Crystal Technologies, a tech company, as a venture capital investment and withdrew all its funding

Goldman Sachs should not be the recipient of the modifier "Before its bankruptcy."

OA D
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by DavidG@VeritasPrep » Thu Mar 05, 2015 4:19 pm
The most glaring problem with B is that it makes sound as though Goldman Sachs went bankrupt in 2008. But even if you don't know that Goldman Sachs didn't go bankrupt, D contains a more logical sequence of events. Goldman Funded Crystal Technologies. Crystal Technologies went bankrupt. Then Goldman withdrew its funding. Makes sense.

B makes it sound as though a bankrupt Goldman withdrew its funding from Crystal Technologies, which also went bankrupt! (And if Goldman was truly bankrupt, why would it wait until Crystal Technologies was bankrupt to withdraw its funding?!)
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by vipulgoyal » Thu Mar 05, 2015 6:53 pm
Thanks Dave,

(B) Before its bankruptcy in 2008, Goldman Sachs Inc. had financed Crystal Technologies, a tech company, as a venture capital investment and withdrew all its funding

in above option what is the referent of "its"
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by GMATGuruNY » Fri Mar 06, 2015 4:49 am
In A, they (plural) cannot serve to refer to Goldman Sachs (singular).
Eliminate A.

B and C: financed...AND...withdrew all its funding
Here, and incorrectly serves to connect CONTRASTING concepts (financed, withdrew all its funding).
Eliminate B and C.

In E, who cannot serve to refer to a non-person (Goldman Sachs).
Eliminate E.

The correct answer is D.

When an introductory modifier includes a pronoun without an antecedent, the referent should be the SUBJECT OF THE FOLLOWING CLAUSE.
Consider the following examples from the OG12:

SC7: As ITS sales of computer products have surpassed those of measuring instruments, THE COMPANY...
SC28: Building on civilizations that preceded THEM in coastal Peru, THE MOCHICA...
SC31: Even though many of HER colleagues were convinced that genes were relatively simple and static, BARBARA MCCLINTOCK...

In each case, the introductory modifier includes a pronoun without an antecedent.
In each case, the referent is the subject of the following clause.

(B) Before ITS bankruptcy in 2008, GOLDMAN SACHS, INC. had financed Crystal Technologies, a tech company, as a venture capital investment and withdrew all its funding

in above option what is the referent of "its"
In B, the referent for its (an introductory pronoun without an antecedent) is Goldman Sachs, Inc. (the subject of the following clause), implying that GOLDMAN SACHS, INC. suffered a bankruptcy.
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