'Sorry' still seems to be the hardest word on Wall Street
By Dana Milbank
WashPost
Thursday, January 14, 2010
Goldman Sachs Chairman Lloyd Blankfein still doesn't get it.
Unemployment is at 10 percent and Americans are suffering because of the meltdown he and his colleagues helped create. But Blankfein's firm, generously bailed out by taxpayers, has already returned to its ways of greed.
Next week, Goldman, the most powerful firm on Wall Street, will report its bonuses for 2009, and through the first nine months of the year it had set aside nearly $17 billion for compensation -- roughly on par with 2007, when Blankfein was paid a record $68 million as his firm led the country off an economic cliff.
Blankfein, called to Washington on Wednesday to testify before the federal Financial Crisis Inquiry Commission, made it plain that he was done apologizing.
(More here.)
WashPost
Thursday, January 14, 2010
Goldman Sachs Chairman Lloyd Blankfein still doesn't get it.
Unemployment is at 10 percent and Americans are suffering because of the meltdown he and his colleagues helped create. But Blankfein's firm, generously bailed out by taxpayers, has already returned to its ways of greed.
Next week, Goldman, the most powerful firm on Wall Street, will report its bonuses for 2009, and through the first nine months of the year it had set aside nearly $17 billion for compensation -- roughly on par with 2007, when Blankfein was paid a record $68 million as his firm led the country off an economic cliff.
Blankfein, called to Washington on Wednesday to testify before the federal Financial Crisis Inquiry Commission, made it plain that he was done apologizing.
(More here.)
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