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Nov. 9 2009 - 10:35 am | 103 views | 2 recommendations | 9 comments

Goldman Sachs: PR disaster machine

This February 11, 2009 file photo shows Goldma...

Image by AFP/Getty Images via Daylife

Maybe Goldman Sachs should board up their windows and take a break for a month, or six.

The public hasn’t been too pleased with Goldman for a while — with the billions of dollars in bailouts, cozy ties to the current administration, and the payments of lavish bonuses, while the US unemployment rate hit 10.2 percent and foreclosure rate continues to rise.

Then, it was reported that Goldman and Citigroup received Swine Flu vaccines for their at-risk employees, while states like California experience severe vaccine shortages.

Yes, it all looks pretty bad for Goldman. And now there’s this.

In an interview with London’s Sunday Times newspaper, Lloyd Blankfein, the chief executive of Goldman, said he believed the banks are doing “God’s work.”

An impish grin spreads across Blankfein’s face. Call him a fat cat who mocks the public. Call him wicked. Call him what you will. He is, he says, just a banker “doing God’s work”

It’s like Blankfein wants to be attacked by a ferocious mob.


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  1. collapse expand

    GOLDMAN SACHS, BAILOUT SUPER STARS
    (Jesus Christ Superstar)
    WilliamBanzai7

    Sing along: http://www.youtube.com/watch?v=IvVr2uks0C8

    PRESIDENT OBAMA

    Every time I look at you in disgust I don’t understand
    Why we let Wall Street just get so out of hand.
    You could’nt have managed better if you’d had it planned.
    Why’d you choose to sink AIG in derivative quick sand?
    If you’d come today you would be lynched by a whole nation.
    The result of your insatiable greed would be mass extermination.
    Don’t you get me wrong.
    I only want to know.

    CHOIR

    Goldman Sachs, Goldman Sachs,
    Who are you? What have you sacrificed?
    Goldman Sachs Bailout Super Stars,
    Do you really believe you’re what you say you are?

    PRESIDENT OBAMA

    Tell me what you think about your former friends at the top.
    Who’d you think besides yourselves’s the pick of the subprime crop?
    Lehman, was that where it was at? They are not where you are now?
    Could Bear have found use for Bernanke’s magic mountain, or was that just bad PR?
    Did you mean to go like that? Was it a mistake, or
    Certainly you know your messy death would have been a record Wall Street breaker?
    Don’t you get me wrong.
    I only want to know.

    CHOIR

    Goldman Sachs, Goldman Sachs,
    Who are you? What have you sacrificed?
    Goldman Sachs Bailout Super Stars,
    Just who the Hell do you think you are?

  2. collapse expand

    Interesting ABC article. I’m still trying to come to terms with this part:

    He said he understood, however, that people were angry with bankers’ actions.

    “I know I could slit my wrists and people would cheer,” he [Blankfein] said.

    That statement just underscores what an arrogant prick he is.

    Yes indeed, we’re angry with him and his associates’ actions. The bonuses that amount to taxpayers funding yachts and sprawling Hampton estates’ upkeep, yes; but mostly, we’re angry with his old-boys club steadily grifting Capitol Hill over decades to remove legal obstacles to them turning Markets into a casino where they, the House, cheat everyone else out of the shirts on their backs!

    I wouldn’t cheer if Lord BankFiend slit his wrists. Just like with drug cartels, another of his evil minions would just assume his position of power. What would make me cheer is if enough elected officials in this country finally grew a set and precluded him and his cadre from affecting decisions made in our government that benefit him and his friends only!

    What a jackass.

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