POLL: Is Goldman Sachs “doing God’s work”? Its CEO thinks so

By Reuters Staff
November 8, 2009

sunday-times

Check out the headline at the bottom left of the Sunday Times front page. The man the London paper calls the most powerful banker on Earth says he is “just a banker ‘doing God’s work’” .

The report says Goldman Sachs chief executive Lloyd Blankfein“proudly pays himself more in a year than most of us could ever dream of — $68m in 2007 alone, a record for any Wall Street CEO, to add to the more than $500m of Goldman stock he owns” .

Goldman Sachs looks set to pay about $20 billion in bonuses for its top traders this year, at a time when the fallout from last year’s financial crisis is still being felt and the United States unemployment rate has hit 10.2 percent, a 26-1/2-year high.

In his defence, Blankfein said in the interview: “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. It’s a virtuous cycle … We have a social purpose.”


75 comments

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Let’s all get down on our knees and worship yet another cost of living riser pig! These speculator maggots have driven real estate prices beyond the reach of Americans, profited by sending our jobs overseas, advised us to get unsound mortgages, and are again driving up gas prices. This is God’s work? Isn’t greed a sin? Blankfein is nothing more than a common thief! This is how an American company makes money – off of the wallets of other Americans. They think that our back pockets are their “horn of plenty.” Are you getting mad yet? The Plastic Spoon Revolution – fighting the high cost of living – is here! Check out our website at: theplasticspoonrevolution.com(do a search using bing) Help fight these pigs!

Moses ordered the killing of thousands who worshipped the Golden Calf while he was up on the mountain getting the Commandments. I am not for killing but I am for jail. These Goldman Sachs guys conspired with the Fed, J.P,. Morgan Chase and Morgan Stanley to do in Lehman Brothers and Bear Stearns to take over their business and reduce their competition. They all met in the offices of the New York Fed like the Mafia families planning a hit. They didn’t invite Lehman, just the way the Mob holds a meeting and doesn’t invite the target of the hit. The RICO statute clearly applies to them. But where is the Justice Department? Steve Cohen, the president of Goldman Sachs is Obama’s biggest contributor, which may explain the inaction. We are all suckers!!!!!!

let us put the entire Goldman sachs team (including past high profile folks like Robert Rubin, henry pauslson etc. ) and present employees in jail.These folks are crooks of the highest order.

Posted by Sam U. | Report as abusive

Gold in Sacks

Self serving bastards.

Posted by madeline | Report as abusive

Definitely This guys have Inflated Asset across the Globe and Created Enough Bubble robing common man and building Corporation.

if they are doing God’s work why would they need salary. let them get paid in blessings.

Posted by rocky | Report as abusive

Usury is a sin so there is no way they could be doing God’s work. It’s sad that they now own America.

Posted by joe | Report as abusive

mr.blankmind is no more doing ‘gods’ work than the mafia or yakuza are public servants. GIVE ME A BREAK…if this g-work is real then i suppose we are all in for a big surprise as the big g seems to want to help the rich get filthy rich by lying, cheating and stealing all the way to the top – even when the country is in a 100 yr recession/depression.obama has a nice swiss bank account care of goldman sachs waiting for him when he retires at the age of 50. he is the ultimate investment banker as he swindled every man woman and child while making it sound like he is a saint and can do no wrong.

Posted by Ohmyg-d | Report as abusive

What a load of horse patootie..Canada’s central banker is from the same club..Lots more misery to come for the plebs!

Posted by poopsoup | Report as abusive

for god all man is equal and does not have a credit rating or a wealth creating potential.

Posted by Apurv Bhargava | Report as abusive

The nerve Mr. Blankfein has.This chap needs to be fired instantly.Why is the Fed sitting idle and inactive? Squandering 20 billion dollars on a bunch of speculative men/women who have utter disregard for the customer’s money is absolutely unacceptable.This just goes to prove that history (read the credit crisis) teaches nothing to mankind.-J Mathew

Posted by Jobin George | Report as abusive

The nerve of some people!!!!!! The Fed should get rid of him

Give me your equities and I throw you a life jacket. This is dirty work, not God’s.

Posted by Greene | Report as abusive

If they are doing “God’s Work” how come the Bible says it is easier for a camel to go through the eye of a needle than for a rich man to get into God’s Kingdom!! Matt. 19:23-24

Posted by Sue DeCasper | Report as abusive

Of course GS is doing god’s work; separating fools from their money. God does not want fools to have money.

Posted by John | Report as abusive

We’re getting a lot of comments that sound like they’ve been copied out of the pages of Mein Kampf. They go straight into the bin.

Just read Matthew 25, and then go through and reread all of the red letter quotes in the gospels and you’ll know whether Goldman’s is doing “God’s work” or whether they are trying to be wolves in sheeps clothing! Along side that, who cares what the commentators and spin masters have to say about it!

Posted by Michael Araujo | Report as abusive

I happen to know some GS traders/insiders. What do they have to say: “Is this heaven?” It wasn’t long ago they wondered if GS wasn’t going to h%$$.

Now now everybody.. don’t be bad sports. Goldman Sachs knows the business and had a plan in place like a decade or more earlier to prepare for an event such as the slump in the economy. How twisted is our logic really when we think ill of people because they have what they legitimately (if this is indeed true) earned? “Hey Goldman! Quit your job and give your money to all of us, then go make yourself scarce.” Yep, that would balance it all out. It’s like me chopping off my limbs cuz the quadriplegics are complaining.Here’s some more food for thought on this general topic: If filthy rich people give $10 million to a charity, whereas I put in, say $100.. then who’s doing “God’s work?” Does intent even matter when the outcome is still positive?

Posted by T | Report as abusive

And actually, since WE created monetary systems, I don’t see how God is even relevant to the subject, except for what Mr. Goldman Sachs stated. That leads me to believe that intent does matter, but the amount in question is irrelevant. That’s the only way I can see this particular situation.

Posted by T | Report as abusive

Then there’s concept of free will, without which, we couldn’t be judged. So he’s doing his own work, and it may overlap with God’s WILL at times.Really, if GS were to evenly distribute his wealth to every taxpayer for the next $10 years, as someone mentioned early in these comments, WE would then be equally obligated to pass the wealth even further down the ladder to those that can’t afford to pay taxes at all (let alone food, shelter, and other basic necessities). Or we could just accept that that would be the right thing to do, and step back so that GS could skip over us and do it directly? Or we could just accept that the majority of us, presently and even after having been given a bailout, would not go on to bailout the people in real trouble, who have a much more legitimate reason to despise us as we do to despise GS, namely in the hypocrisy that is embedded in our position as the middle-men.Would also like to reference Jan Crowder (November 8th, 2009 – 11:44 pm GMT. Excellent comment if I do say so myself.

Posted by T | Report as abusive

“Doing God’s Work” is exactly what many of the top investment bankers said to Congress when questioned about their role in the Stock Market Crash of 1929.Read the book, “Wall Street Under Oath” to get a flavor of how the public is cheated by those who own the Wall Street casinos.Their slogan should be, “What are you complaining about, we stole the money fair and square.”

Posted by Even Steven | Report as abusive

didn’t jeff skilling say the same thing about doing god’s work when he was ceo of enron?

Posted by steo | Report as abusive

When referring to God’s work, keep in mind that the Word of God has a script full of bad buys too. Some evils are necessary when a society moves from fixed gold to free floating real-time gold-as-money. Did you all know that the free floating dollar has really been developed as a real-time measure for real-time gold currency ? You see …. some evils are necessary. Follow the script. It ends well.

Posted by therooster | Report as abusive