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Blankfein To Stay At Goldman, Nation Breathes Sigh of Relief

050311blankfein.jpg We knew there was a reason that the sun is shining today. After some speculation that he would step down after a somewhat tumultuous turn at the helm of Goldman Sachs, CEO Lloyd Blankfein has indicated that he will remain vampire squid-in-chief for at least a couple of years. Who would give up a cafeteria like this? The Post breaks down Blankfein's "report card" as being a "mixed bag," noting that while the firm has crushed competitors like JPMorgan and Morgan Stanley, Blankfein has presided over a tumble in profits and a "p.r. trainwreck" following the $550 million settlement with the SEC over fraud related to subprime mortgages.

But Goldman was never forced to formally admit guilt, and $550 million for a company that routinely posted profits in the billions reads more like a victory to us. The CEO's real test in the future may be whether he'll be able to keep some of his most profitable divisions from being strictly regulated or shutdown altogether by legislative reform. Nevertheless, whenever Blankfein does decided to step down, he'll probably have a parking space with his name on it at the Treasury.

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Comments [rss]

  • Guest

    what you see here is a poorly depicted French portrait, circa 1827...

  • angry_pickle

    I prefer a more avant garde portrait:

    http://noir.bloomberg.com/apps...

  • Guest

    for better or worse, this guy is a pure portrait material.

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