Blankfein Interview: Goldman Sachs CEO Lloyd Blankfein Says Firm Got No Special Treatment, Plans Bonuses For 2009

The Wall Street Journal:

Sitting across from me now in his comfortable office on the 30th floor of company headquarters in lower Manhattan, Goldman's CEO Lloyd Blankfein professes to be more bemused than hurt by the slurs. I suppose his serenity may be helped by the fact that the events we're discussing--Goldman's brush with death--appear to be firmly in the past.

He defends all that he considers exemplary about the firm: its disciplined risk taking; that 90% of its revenue and profits are generated in service to clients; that it's not just a giant hedge fund, as some critics say; that it plays a vital social role in matching those who have capital with those who need it; that its partners frequently retire young to devote themselves to philanthropy or public service.

Read the whole story: The Wall Street Journal

Comments

[JBS]

Lying liars and the liars who support them

[lamonth]

tell the teabaggers if anyone needs to be assasinated its ceo's like this guy

[Rentug]

Obama needs to carry out more reform. He needs to get things done instead of just talking and planning because his voters are becoming impatient and the robber barons are at it again.

Good articles: http://pie.im/af30

2 party system gives no results.

[grateful4thedead]

go to zerohedge dot com

see the blankfein interview article.

goldman still subsidized via their fdic guaranteed bonds.

YOU are subsidizing Goldman's low interest loans (over 20 billion) so they can play in the markets and make money by taking yours.

Pres. Obama must stop this now. this is being facilitated by bernanke, geithner, and summers. They are playing Obama like a fiddle. how sad.

[StephenJK]

Ever stop to think Obama may be a willing fiddle?

[grateful4thedead]

yes, you are likely correct. Obama is not a finance guy. Obama is a politician and as such recognizes that short term pain will hurt his and the dems chances to stay in power, thus we kick the can down the road. we were on the precipice one year ago and since then, nothing has changed on a financial and economic basis.
Obama also looks to the fact that the failed dollar policy results in his ability to spend more (borrowed) money and does not see the ultimate end game. or, he does see it and is taking the risk. it will not and it cannot end well when one views it on a mathematical basis.

[bynddrvn5]

So you deserve a bonus for creating those bonds full of worthless loans? What is next?

With all the newly homeless people, maybe the "too big to fail banks" can make loans to the homeless based on their stated bottle and can income for the next couple of years. Then Goldman can pool these bottle and can loans and create bonds to sell.

We must refuse to deal with crooks, they stole from us before and they will do it again.

[Ken Maddox]

The so called risk takers getting wealthy from their risk taking is a farce. Actually calling it a farce is being far too kind, but this is a moderated comment page.
The money mongers at Goldman make money by assigning all the risk to others, not by accepting risk themselves. The end result is that persons with the least to lose make the money, while those with the most to lose have little or no money.
Goldman steals from others to pay themselves, and retiring at 40 to go sponsor a little league team is not a worthy endeavor to pay for their crimes.

[dolphy]

This guy should remember what happened in Germany after the hyper-inflation. He might think twice before ripping us off.

[dolphy]

Isn't it amazing that Sachs rhymes with sucks as in leeches?

[rbchilds]

And I have beach front property in the Rocky Mountains for sale. Since 1990 the total political contributions of Goldman Sachs through individuals and PACs has totaled $31,200,662.
Democrats received $19,982,272 and Republicans received $11,111,300. 64% of all donations have been to the Democrats, 36% to the Republicans. Didn't get special treatment indeed NOT.

[MalakAlHaq]

Oh yeh, just like his wife didn't try to press her better-than-thou attitude at a local event.

It is a wonder why guys like him are not penniless and put in prison.

[roybattyjunior]

Isn't this guy the de facto head of the Treasury?

[martiniandabotoxchaser]

I have an idea...how about Goldman Sach not paying bonuses, investing in real businesses (the kind that makes stuff to sell to other nations) and hiring a ton of people. They created the unemployment disaster, they should use their usurious profits to fix it.

[bayviking]

Apparently, Mr.Blankfe­in can't remember that he was invited to secret meetings with the Fed and Treasury that precede the collapse of Bear-Stearns and Lehmen Bros. That taking out SWAPS on companies that G-Sax and other powerful traders were launching an illegal naked short selling attack is immoral and would be illegal if their former CEO Rubin hadn't successfully repealed Glass-Steagal. That they are now a Bank Holding Company merged into a tipsy FDIC system which is undercapitalized because of the securities these b*stards have dumped on smaller Banks dumb enough to believe G-Sax operates in an atmosphere of full disclosure and honesty. Any assertion that this is not specal treatment by their former CEO Paulson is a bald faced lie. The best you can say is he did for a few other underhanded dealmakers as well.

[claytongrayum]

Goldman is a criminal organization feeding off the people. They under cut the fabric of the middleclass with their greed and predatory practices. We bailed them out for no reason than they were bluffing vegas style. They help create the fire and expected and knew we'd rescue them. We deserve our downfall for being so ignorant.

[DMSmith]

If government bailout money - millions of it - isn't 'special treatment', then what the f**k IS?

This man is out of his mind!