Word: goldmans
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Dates: during 2000-2009
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Lloyd Blankfein, the 54-year-old chairman and CEO of Goldman Sachs, is powerfully perplexed. In the past six months, his investment-banking and securities-trading firm has roared ahead in profitability by taking risks - that other firms would not - for itself and its clients in an edgy market. It has paid back the billions of dollars, and then some, of taxpayer money the government forced it to take last October; raised billions of dollars in capital from private investors, including $5 billion from Warren Buffett; and urged its cadre of well-paid and high-performing executives to show some...
...this, the level of resentment and ire directed at Goldman - from Congress, from competitors, from the media, from the public - has never been higher. Blankfein, only the 11th leader of the 140-year-old firm, is having a tough time understanding...
...recent story in Rolling Stone, of all places, in which the author described Goldman as a "great vampire squid wrapped around the face of humanity," has been particularly troubling to him. "Oddly enough, the Rolling Stone article tapped into something," he says in an interview. "I saw it as gonzo, over-the-top writing that some people might find fun to read. I was shocked that others saw it as being supporting evidence that Goldman Sachs had burned down the Reichstag, shot the Archduke Ferdinand and fired on Fort Sumter." Suddenly a firm that few Americans know or understand...
...Thus far, Faust has played a seemingly hands-off role as an administrator, relying heavily on departing Executive Vice President Edward C. Forst ’82—a former Goldman Sachs executive who served as Faust’s right-hand man in a post that she created. For the most part, she has continued to allow the deans of Harvard’s twelve different schools to make policy decisions on their own—reverting to Harvard’s age-old decentralized philosophy of “every tub on its own bottom...
Justin Fox devotes a page to the success of Goldman Sachs and JPMorgan Chase and attributes that success to their being better at what they do than their rivals are [Aug. 3]. Yet nowhere does Fox explain what they do or how they contribute to the economic well-being of this nation. Is that because the constant cycle of consolidations and spin-offs does nothing but assuage the egos of CEOs and enrich the executives and employees of those two firms? Christopher Kane, GRASS VALLEY, CALIF...