Jon Corzine: People Hate Goldman Sachs Because They "Envy" Success (VIDEO)

In an interview with Bloomberg Television yesterday, former Goldman Sachs CEO Jon Corzine -- and former New Jersey governor -- defended the firm he once ran, alleging that as "the leader of the industry," Goldman is "vulnerable" to "envy":

"When you're successful it brings envy...These things are at a time when people are extremely sensitive -- and the other issue is that people are broadly frustrated with the financial institutions, and since it is the leader of the industry and has shown great success over a long period of time, I think it's more vulnerable."

And despite his ill-conceived comment about Goldman doing "God's work," Corzine said that CEO Lloyd Blankfein is doing "a much better job" in an "incredibly challenging" environment "than some of the publicity surrounding him" indicates.

Corzine had nary a critical word for Wall Street, although he did note that one Goldman managing director "said [Goldman] should have brought more transparency to the currency swaps associated with Greece."

Corzine, who was reportedly ousted as Goldman's chief in a 1998 "coup" led by senior Goldman execs -- including his successor, Henry Paulson -- was elected Senator and then governor of New Jersey. But he lost his reelection bid last fall, and his next career move is as yet undetermined. He told Bloomberg that he's currently "looking at three or four different kinds of options," but denied that he ever talked to Bank of America:

"No to Bank of America, to that situation. We never had any conversation. The state of New Jersey has done a lot of business with Bank of America and is a little awkward. I was governor. I would have had trouble even allowing myself on a conflict basis to enter into those talks."

But Corzine seemed open to the possibility of running another financial institution, although he said it would need to happen sooner than later, since he's "getting a little older."

Here's the full interview:

Comments

[hellboundtrain]

05:43 PM on 02/28/2010

The People do not flourish when they are being consistently betrayed.

Some have gained their fortunes through diabolical means.

[billshut]

01:09 PM on 02/28/2010

le'tool

[blueskybigstar]

11:36 AM on 02/28/2010

Goldman Sachs and AIG and Time Warner and many, many companies who don't know how to do business are CIA front companies. Would not be surprised if Corzine is CIA. They are in our politics, they give us the news that they want us to hear, they are on Wall St., they are giving money to their own candidates, they are drug smuggling, they are everywhere.

[mardees]

06:26 PM on 02/28/2010

HUH?

[blueskybigstar]

07:04 PM on 02/28/2010

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=92675&mesg_id=96045
http://www.fromthewilderness.com/free/ciadrugs/part_2.html
http://aconstantineblacklist.blogspot.com/2009/03/bailout-of-aig-cia-covert-operations.html
http://www.abovetopsecret.com/forum/thread392616/pg1
http://www.911truth.org/article.php?story=20080917194503709
http://news.firedoglake.com/2010/01/12/ed-towns-subpoenas-new-york-fed-for-aig-documents/
http://www.goldmansachs666.com/2009/04/is-goldman-sachs-running-us-government.html
http://www.globalresearch.ca/articles/CHI208A.html

[blueskybigstar]

11:28 AM on 02/28/2010

No, it is because we hate thieves, especially ones who have been so greedy that it is ruining the country. It should be considered acts of treason what they are doing to this country.

[blood1]

11:28 AM on 02/28/2010

Most condemn GS et al. for being able to bet both ways. Most are disgusted when they only make money by moving it from place to place, creating nothing. Most are disgusted when we learned that they are profiting by back door deals, who knew that Societe General was the french extension of GS - SG received $12B from AIG and promptly funneled $11B back to Goldman Sachs Group, Inc.

Envy? - NOPE!
Disgusted - YEP! after learning that GS is probably worse than the historic mafia in stealing money, laundering through the FED and proudly saying that the Recession is over....just look at our profits.

[siasina]

11:14 AM on 02/28/2010

And that's why you're out of office Corzine!!

And by success, you mean lying, cheating, and defrauding the American people. All these CEO's and people who were responsible for the financial crisis that got bailed out, first should have had all their bonuses taken away, if not in jail.

The government failed; no meaningful investigation, no prosecution, and no one punished. Now two years since the crisis, and no financial reform. The failure of this government to enforce the rules is going to sink this country.

[hellboundtrain]

10:41 AM on 02/28/2010

Jon: There is no success without adherence to principles of integrity.
Therefore, there is no success.

[blueskybigstar]

11:31 AM on 02/28/2010

fanned

[Hawise]

09:50 AM on 02/28/2010

People hate Goldman Sachs because they revealed the darkside of the American dream- that those who have attained it will do anything to prevent the rest of us from even tasting the crumbs.

[DazedandConfused]

11:51 PM on 02/27/2010

Should we "envy" Bernie Madoff because he was successful at swindling people out of their money? According to Corzine, we should. Because money = success.

I would assume the guys at Goldman work long hours. But they didn't create anything of value (like a microchip or a new drug). All they created were structured financial products that supposedly got rid of risk (but didn't). Similar to the guys who once claimed to change base metals into gold. I think they were called "charlatans."

[andycan]

10:28 PM on 02/27/2010

Corzine is totally shameless.
This monstrous bank made money betting that the world economy will go to hell while helping it go to hell.
Corzine should be indicted as all the Goldman Sachs management - and shate the fate of Madoff and
Conrad Black.

[msjimmied]

10:18 PM on 02/27/2010

The disconnect is stunning. He has absolutely no idea of the anger that is festering among the populace. This article is quite an eye opener.."The Economic Elite Have Engineered an Extraordinary Coup, Threatening the Very Existence of the Middle Class"

http://www.alternet.org/story/145667/

No, Jon, we are quite aware of what has been happening. Why do you think you lost in your state? It was the stench of Goldman Sachs wafting around you.

[msjimmied]

10:32 PM on 02/27/2010

And here is part II of the article..

http://pubrecord.org/special-to-the-public-record/6954/economic-elite-economic-elite-people/

sorry, couldn't find it on the the same url

[Bigleague]

09:20 PM on 02/27/2010

I may envy success. But the means by how that success came about determines if I actually
consider it success.
And Sachs does not fit into the category of successful in my book.

[GoodRead]

05:10 PM on 02/27/2010

So which is it going to be, Goldman Sachs is hated because 'people' envy success or is it as Lloyd Blankfien has implied, people are anti-Semitic?

Surprise! It’s neither.

People, who include Jews, hate Goldman Sachs because the firm wins at any cost - to its clients, even to its country.

People hate Goldman Sachs because it has not changed its ways since launching the Ponzi scheme-like Goldman Sachs Trading Corp. closed-end fund, in 1928. Goldman Sachs an hasn't changed that is, except for getting much, much better at not paying the price for its deeds, even when it does get caught.

[sueinmn]

05:00 PM on 02/27/2010

He calls it envy, we call it greed. Arogance at its best, these people havent a clue! Take away ALL THAT WAS PROVIDED via taxpayers and implement true reform. Throw more than a few in prizon and see him still have reasons to gloat.

[skippyB]

03:43 PM on 02/27/2010

We're not jealous of you and we don't hate you. We see you for what you are. Deal with that.