Goldman Sachs CEO Blankfein says firm is doing 'God's work'
Added 91 days ago on November 10th, 2009
Lloyd Blankfein, the CEO of Goldman Sachs (GS), has put an unusual spin on the bank's activities. He says his firm is doing "God's work." This may seem like an audacious statement coming from a man whose company has been harshly criticized for planning to give many of its employees multi-million pay packages just a bit more than a year after the collapse of the credit markets.Blankfein told The Times of London, "We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose." That is, of course, a social purpose that comes at a very steep price; it charges huge fees for raising money and handling M&A transactions, even if they eventually fail.
Source: dailyfinance.com
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Posted by: jmrkaa
5:37am, November 12th, 2009
Re: Goldman Sachs CEO Blankfein says firm is...
Who could trust him?
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