News, analysis and personal reflections on the markets & the financial sector

Saturday, August 29, 2009

Blankfein questions resentment directed at Goldman

During the past six months, Goldman Sachs has taken risks and been handsomely rewarded for it. The firm repaid billions of dollars the government forced it to take in the fall, raised billions more from Warren Buffett and other investors, and encouraged its executives to tone down activities that could be construed as conspicuous consumption. Despite all of these efforts, Goldman has been the target of much resentment from its rivals, the media, Congress and the public, raising questions from CEO Lloyd Blankfein.

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