NYT to Blankfein: Your 'Apology' Is Bull

Editorial board schools Goldman CEO in true meaning of 'sorry'

By M. Morris, Newser Staff

Posted Nov 22, 2009 4:53 PM CST

(Newser) – Lloyd Blankfein took his sweet time acknowledging his firm's role in almost toppling the financial system, and the New York Times editorial board stewed until today, when the paper's audience is largest. The Goldman Sachs CEO said in a speech this week, "We participated in things that were clearly wrong and we have reasons to regret" and may have added "we apologize"—different sources, including different Times reporters, captured different wording. Trouble is, the editorial notes, he didn't say for what or to whom.

In Goldman's view, "taxpayer dollars have not helped to generate its post-crash profits, and anger over bonuses is jealousy over the good fortune of others," the editors write. "That is absurd." In fact, they fume, "Wall Street, with Goldman as a leader and with regulators in thrall, helped to inflate and profited from a credit bubble that burst and cost tens of millions of Americans their jobs, incomes, savings and home equity." Their solution: a tax-deductible donation to the Bureau of the Public Debt. Lloyd, if you're still reading, click the source link at right to get the address.

The bronze bull statue, Wall Street's icon of prosperity, sits on Bowling Green in New York City's financial district, Monday, June 23, 2008. (AP Photo/Mark Lennihan)

A bull statue stands in front of the New York Mercantile Exchange on Thursday, Aug. 23, 2007. (AP Photo/Mark Lennihan)

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COMMENTS

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Showing 3 of 7 comments

hans57sauc

Nov 24, 2009 12:39 PM CST

in other news... sales of bullet proof vests goes up after reports of wild outrage against stock brokers...

Pragmaticrealism

Nov 23, 2009 2:59 AM CST

Case in point: Madoff. Now, take Madoff's scheme, and multiply the impact 100,000×, or more. That is how much our current regulatory systems have failed us. Or is the onus on the Americans who overshot their means?? Sometimes I'm not sure

dax

Nov 23, 2009 2:08 AM CST

Not when they own the guillotine and the executioner.

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Goldman Sachs • CEO • credit crisis • apology • Lloyd Blankfein • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP • Bureau of the Public Debt

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NYT to Blankfein: Your 'Apology' Is Bull

Editorial board schools Goldman CEO in true meaning of 'sorry'

OTHER STORIES ON OUR RADAR

Goldman Sachs • CEO • credit crisis • apology • Lloyd Blankfein • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP • Bureau of the Public Debt

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More Newser Stories

Goldman's Blankfein Is 'Doing God's Work'

A look behind the scenes at the omnipresent bank

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

'Humbled' Bank CEOs Will Deny Blowing Bailout

Top bankers face grilling today from furious Congress

Taxpayers Will Score $12B on Citigroup Bailout: Treasury

Government strikes deal to sell remaining 2.4B shares

Bailed-Out Companies Throw Cash to GOP

Even though Dems led push for TARP

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NYT to Blankfein: Your 'Apology' Is Bull

Editorial board schools Goldman CEO in true meaning of 'sorry'

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OTHER STORIES ON OUR RADAR

Goldman Sachs • CEO • credit crisis • apology • Lloyd Blankfein • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP • Bureau of the Public Debt

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Goldman's Blankfein Is 'Doing God's Work'

A look behind the scenes at the omnipresent bank

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

'Humbled' Bank CEOs Will Deny Blowing Bailout

Top bankers face grilling today from furious Congress

Taxpayers Will Score $12B on Citigroup Bailout: Treasury

Government strikes deal to sell remaining 2.4B shares

Bailed-Out Companies Throw Cash to GOP

Even though Dems led push for TARP

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Newser By Users

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What is Newser?