Friday, November 20, 2009

BLANKFEIN A BIT BETTER THAN DIMON

Jamie Dimon of JPMorgan admitted that investments banks did "some really stupid things" but didn't aknowledge any moral issues. After claiming that he does "God's work," Goldman Sachs CEO Lloyd Blankfein showed a bit more repentance:
Goldman's chief executive apologizes for part in fiscal crisis
By Greg Gordon | McClatchy Newspapers
Posted on Thursday, November 19, 2009

However, he [Blankfein] said, "there's also people who feel — and are right — that there's some meaningful things where we may have — not may have, certainly our industry is responsible for things. And we're a leader in our industry, and we participated in things that were clearly wrong, and we have reasons to regret and apologize for."

When he was asked what lessons he and the company have learned, he said: "Listen, there was a lot of negligent behavior, improper, bad behavior, behavior that has to be fixed and sorted through. There's no doubt about it, and everybody succumbed to it, some more or less. We don't take ourselves out of that. I include ourselves in that."

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