LATICONOMICS (Free subscription) | 11/24/2009
Goldman Sachs: the case for the defence By William Cohan Let us now praise Goldman Sachs , for the sole reason that it and it alone among the major, capital-intensive Wall Street institutions – both recently deceased and still living – actually understands something about risk and risk-taking. By his own admission, Lloyd Blankfein, Goldman’s chief executive, ranks risk management...
DealBreaker (Free subscription) | 11/24/2009
AIG's Rescue Bedevils U.S. (WSJ) Some fed officials want the Pay Czar to ease up on comp restrictions. "AIG is the best example of why the government should never get itself in the position of even having to make these tradeoffs," said Anil Kashyap, an economics professor at the University of Chicago Booth School of Business. "It's why you don't want the government involved in the private...
DealBreaker (Free subscription) | 11/23/2009
One Jabroni Pony, perhaps maybe bristling at the fact that Lloyd has chosen not to take his career advice , say yes. Is it true? The JP believes it is so, down in his gut. Do the rumblings have anything to do with some bad pork product last night? Unclear. Anyway, bigger question: if the nitrates in Gasparino's stomach are actually on to something, did Lloyd ever read the papers? Or did he have the...
Daily Intelligencer - New York Magazine (Free subscription) | 11/23/2009
Last week, as you know, Goldman Sachs CEO Lloyd Blankfein apologized for "participating in things that were clearly wrong" that they "have reason to regret." As we predicted, no one found this mea culpa particularly satisfactory. The Times , in particular, after thinking through it for a few days, ripped the firm a new one this weekend. The apology, they said in an editorial, was...
DealBreaker (Free subscription) | 11/23/2009
Why Did Lloyd Blankfein Apologize? (NYT) According to Goldman: "Lloyd has expressed regret in various different forums, including a speech to the Council of Institutional Investors in April and one at the Handelsblatt Conference in September. He has stated that the financial services industry collectively neglected to raise enough questions about whether some of the trends and practices that...
Grasping Reality with Both Hands (Free subscription) | 11/19/2009
Who writes: >Out of running room: I THINK Brad DeLong misread this post of mine from yesterday as a shot at him. It wasn't. I agree with him that the constraints which seem to be draping themselves across American policy options are worrisome. I was more focused on those who seized on his earlier post, on how the whole AIG mess has likely soured the American public on big interventions, as a reason...
DealBreaker (Free subscription) | 11/18/2009
Charlie Gasparino called Lloyd Blankfein a "twerp with half a nut" the other night and if you thought that was just CG being affectionate, you thought wrong. Chaz is sick of "this guy." He's sick of his charitable contributions, he's sick of him running his mouth, he's sick of the look on his face. It used to be the when Wall Street execs got under his skin Charlie would simply...
Times of India (Free subscription) | 11/18/2009
The head of Goldman Sachs, Lloyd Blankfein, has apologised for the role the financial services major played in pulling down Wall Street titans that rattled the entire world.
The Curious Capitalist (Free subscription) | 11/18/2009
Goldman Sachs CEO Lloyd Blankfein is sorry. Speaking yesterday at a conference sponsored by Directorship magazine (which has named him CEO of the Year), Blankfein expressed remorse for the firm's role in helping to bring the country to the brink of financial collapse: "We participated in things that were clearly wrong and have reason to regret [...]
Running 'Cause I Can't Fly (Free subscription) | 11/18/2009
"The Golden Pig Does Penance? Goldman Sachs Plays at Giving Back to the Little People" by Joe Costello "If only all the boys sitting behind bars for sticking up a 7-11 knew all they had to do was apologize and give back a pittance of what they stole. All would be forgiven. Goldman Sachs announced it was giving the little folks $500 million spread over five years, because as CEO Lloyd...
CNNMoney.com (Free subscription) | 11/18/2009
As the world knows, the public is up in arms about the compensation being paid at financial companies that owe their very existence to massive government help. Ordinary citizens, earning ordinary pay (or none at all), burn to see bankers and Wall Streeters get rudely cut down to size. But what many people don't focus on is that lower pay for these corporate fat cats would simply mean more money for...
DealBreaker (Free subscription) | 11/18/2009
As you're aware, Lloyd Blankfein apologized yesterday for "participating in things that were clearly wrong," because Goldman is "very concerned" about its reputation, and who doesn't love a good "Sorry, I was wrong," particularly done in public to up the humiliation factor? Obviously LB and Co are hoping it's enough to silence all the peasants and Matt Taibbis out there,...
CNNMoney.com (Free subscription) | 11/18/2009
The public relations gurus who are advising Goldman Sachs Chief Executive Officer Lloyd Blankfein might want to give him some new advice. Shut up!
MSNBC.com (Free subscription) | 11/18/2009
Goldman Sachs is teaming with billionaire investor Warren Buffett to invest $500 million to help small business owners across America. Warren Buffett - Goldman Sachs - Business - Small business - Lloyd Blankfein
News-Insurances (Free subscription) | 11/18/2009
Goldman Sachs Group chief executive Lloyd Blankfein (which received the second largest payback from AIG over CDS contracts) said his firm “participated in things that were clearly wrong” in the lead-up to the financial crisis, Bloomberg News reported on Tuesday. Blankfein apologised during a conference in New York hosted by Directorship magazine, Bloomberg said. “We participated...
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