Goldman Sachs boss says banks do "God's work"

[buster2209]

http://www.reuters.com/article/newsO...5A719520091108

Goldman Sachs boss says banks do "God's work"

Sun Nov 8, 2009 11:25am EST

LONDON (Reuters) - The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work."

In an interview with London's Sunday Times newspaper, Lloyd Blankfein also said he believed big profits and bonuses at banks were a sign that the world economy was recovering.

"We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose," he told the paper.

The dominant Wall Street bank posted third-quarter earnings of $3 billion and plans to hand out more than $20 billion in year-end bonuses.

Blankfein told the Sunday Times that the bank's compensation practices correlated with long-term performance.

"Others made no money and still paid large bonuses. Some are not around anymore. I wonder why?"

He added that he understood, however, that people were angry with bankers' actions: "I know I could slit my wrists and people would cheer."

(Reporting by Victoria Bryan; Editing by Greg Mahlich)

Judging by the last sentence, he is mentally sane!!

[ByAnyMeans]

""I know I could slit my wrists and people would cheer."


I agree with your "he's sane" comment.
He at least understands the reality of the public mood for these asshats. I can't be to pissed at them though for the bonuses. No bailout would have let things work out on their own.

[buster2209]

""I know I could slit my wrists and people would cheer."

I agree with your "he's sane" comment.
He at least understands the reality of the public mood for these asshats. I can't be to pissed at them though for the bonuses. No bailout would have let things work out on their own.

These asshats should be allowed to give themselves whatever bonuses they like.

They should also be told to 'fuk off' when they go begging to the Government for a handout, I mean bailout.

[ByAnyMeans]

These asshats should be allowed to give themselves whatever bonuses they like.

They should also be told to 'fuk off' when they go begging to the Government for a handout, I mean bailout.

Complete agreement over here.

[andrewjs18]

These asshats should be allowed to give themselves whatever bonuses they like.

They should also be told to 'fuk off' when they go begging to the Government for a handout, I mean bailout.

I'm in agreement, too.

[mcmcallister]

agree also