Goldman’s Blankfein: SEC Case Will ‘Hurt America’
Lloyd Blankfein -- head of Wall Street giant Goldman Sachs, against which the SEC filed civil charges last week for defrauding clients in some mortgage-backed
Jul 31, 2020994.8K Shares13.2M Views
Lloyd Blankfein — head of Wall Street giant Goldman Sachs, against which the SEC filed civil chargeslast week for defrauding clients in some mortgage-backed securities trades — famously stopped speaking to the press after he mentioned he thoughtGoldman was doing “God’s work” in the midst of the biggest financial crisis since the Great Depression.
My guess is that the public still won’t be hearing from Blankfein too often. The Financial Times reports that in his numerous calls to major clients, assuring them of the firm’s stability despite the SEC charge, he has argued the suit will“hurt America.”
Unlike Goldman’s participation in over-financializing the U.S. economy, stoking the mortgage crisis and shorting the housing market, leading to an $8 trillion loss in household wealth, the suit will hurt America. Right.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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