Word: blankfein
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...Geithner has been working Wall Street too. In the middle of last week he met with a group of top bankers, including Jamie Dimon of JPMorgan, Lloyd Blankfein of Goldman Sachs and others, and told them that while they were welcome to fight his efforts, the political environment was on his side. "In the long run we all need to restore trust in the system," Geithner told the bankers, according to a top aide familiar with the conversation, "People want to see that something's being done." (Read TIME's cover story, "What's Still Wrong with Wall Street...
...Rage Over Goldman Sachs" [Aug. 31]: I will take CEO Lloyd Blankfein's word that he is shocked by the perception that the firm "burned down the Reichstag, shot the Archduke Ferdinand and fired on Fort Sumter." What a relief that is. Nevertheless, many of us are still wondering if Goldman Sachs' former employees who now hold influential government positions have unduly influenced national economic policy to Goldman's advantage. It is also high time we discovered whether Goldman's astronomical profits are the upshot of its alleged ability to perpetuate sophisticated market manipulation and fraud. These are real questions...
...spent 14 years at Goldman immediately prior to his brief tenure at Harvard, will rejoin the company’s management committee and “review, define, and focus the firm’s global strategy,” according to an internal memo sent by Lloyd C. Blankfein ’75 and Gary D. Cohn, Goldman’s CEO and president, respectively...
Figuring out how to balance the proper ongoing motivation of some of the nation's best and brightest people with the still simmering public anger toward Wall Street - and, at the moment, toward Goldman Sachs in particular - may be Blankfein's biggest management challenge yet. And he knows it. "Everybody's goal in life is to get 105% credit for all the good things they do and much less recognition for all the bad things they do," he says. "But with us, bizarrely, the view seems to be, What's good is bad and what's bad is good. There...
...Blankfein is convinced that Goldman Sachs is good for its clients, for the world's capital markets - and yes, for America as well. "I would like for us to be thought of as always doing the right thing and for people at the firm to be confident that they are doing the right thing," he says. Now if only he could get the public to see things this...