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

By Reuters Staff
November 8, 2009


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.”


We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

If your god’s name is satan, yeah they are doing a great job making people miserable , breaking up families , putting people on the street.Shame on you Esau’s children!!The time of Jacob’s trouble is almost over so enjoy making misery while you can!

Posted by ian ethers | Report as abusive

Oh, now they turn pseudo-religious and moralistic. That is the usual trait shortly before getting caught out.I insist: Investigate Goldman-Sachs for insider trading with the US Treasury and Mr Henry Paulson (ex-Goldman boy), and the unjust use of bail-out funds for opportunistic take-overs during the credit crunch.

Posted by J P Barnard | Report as abusive

I thought God’s work was destroying the environment to bring about a hell on Earth!

Posted by Satan | Report as abusive

If it is God’s work tell that to the one in five unemployed (and increasing) in the USA brought about by the financial meltdown. GS has certainly added to their cheer !

Posted by Betty Senior | Report as abusive

One sick MF

If he were truly doing God’s work then he would give all that he has to others in need and follow Jesus whose work manual is the Bible as ordained by God. Let’s watch and see where his heart truly lies.

Posted by marilyn bilby | Report as abusive

God work my A… it just shows how bad these people really are and our government does nothing but take there campaign contributions#1 contender for campaign funds from Goldman=Obama

Posted by yourmomscalling | Report as abusive

To say the least – what a joke-. The sad thing is he probable believes it, but actually someone who believes their own lies is a sociopath.

Posted by Moyra O'Hagan | Report as abusive

This is the work of God that you believe in and trust in the One He has sent. John 3.16

Posted by joe potter | Report as abusive

Let them survive on their own when next financial crisis hit the wall street. Let them sink to the bottom of the pool and stay there.

Posted by mincheol | Report as abusive

(Do not judge lest you be judged….)Bible: Matthew 7:1-5Pull the log from your own eye.God is always in control of all things. He is also the controller of all money.People helping people. Its a win win situation. Those companies that survive this crisis without a hand out are the ones to look to, because they are the financial gurus. Just because companies are smart and stay ahead of the game doesn’t make them bad people, just hated by those who are jealous.While you have your Bible out checking my scripture reference. Look up John 3:16 it will change your life.God Bless All

Posted by Jan Crowder | Report as abusive

They do the devil’s work.

Posted by Michaek | Report as abusive

Very little of GS’s revenue comes from helping companies raise money. Their main revenue source by far is proprietary trading. In other words GS is just a glorified hedge fund. So explain to me again why a hedge fund has taxpayer backing?

Posted by Frank Rizzo | Report as abusive

Just what we need, another arrogant and insulting CEO who believes he is “enlightening us”. Companies that are raising billions of capital are taking that “capital” and investing it in the thousands of factories, companies and other banks overseas and in China, NOT creating jobs and building new manufacturing facilites here on our soil. Practically all the manufacturing, tech and industrial backbone of this nation has been decimated, gone overseas and it’s NEVER coming back. So that companies and other bankers such as Blankfein can get more and more and MORE. Is Every American going to sit behind a foreign-made computer and do “computer work”? God’s work might involve selling off Blankfein’s $500 million in stock and give back to each taxpaying American citizen their bailout share of $1 million each in restricted accounts specific for life necessities like paying mortgages, cars, food, insurance and school tuitions for the next 10 years (about 300 million in people in the the USA) and Blankfein would still have more than enough for his own “needs”. Wouldn’t that help get the U.S. economy rolling? Millions of hardworking good people could stay in their homes…Might even be good to soothe his consencious and prove his self-anointed theory. Perhaps this is what he can do to help repair and protect what’s left of this country as an American while proclaiming to know God’s work. Take all those zeros you own and become a hero.

Posted by Working Mother of the future | Report as abusive

Goldman Force Lehman into Bankrupcy, made AIG worthless, created the dot-com bubble, The real estate bubble, just so their execs and lawyers could buy an extra ski house. Yes they are evil!

Posted by nh | Report as abusive

What pretentious hybris!

Posted by Peter | Report as abusive

GS is doing good…really. Too strong to fall.

Posted by Tural | Report as abusive

God must certainly be on his side as he and his cronies are allowed to get away scot-free on every heinous thing Goldman did!

Posted by Just Harry | Report as abusive

….and they said Tianic would’nt sink, these SOB’s are doing Satan’s work.Jealousy does not come into it, you are either for this world and all the junk, glitz and vices that go with it ..or like me you choose the Father of Lights- YAHWEH , the Almighty.

Posted by ian ethers | Report as abusive

….and they said Titanic would’nt sink, these SOB’s are doing Satan’s work.Jealousy does not come into it, you are either for this world and all the junk, glitz and vices that go with it ..or like me you choose the Father of Lights- YAHWEH , the Almighty.

Posted by ian ethers | Report as abusive

Good Lawd, even Abraham would turn in his grave. Ethers, just check out what name the Physician of Light uses.

Posted by Ishmael | Report as abusive

This has to count as the joke of the (GS aided boom-bust) decade. BTW if absolute power corrupts absolutely, then where does that leave god or GS for that matter since they’re now his bunch of elves.

Posted by Debranjan | Report as abusive

@ Harry (09:49) “God must certainly be on his side…”- I think “The Devil looks after his own” is the phrase you’re looking for…I really don’t think I have ever, ever, in my life heard anything quite as arrogant as Blankfein’s statement. Unless of course his god is Rex Mundi, the lord of lies, in which case it makes perfect sense.

Posted by Jim | Report as abusive

GS doing God’s work? oh god oh god oh god oh god, They’re evil, evil tentacles of doom and hate spread to every corner of the world. They are the gods of old incarnate, cthulu come to earth to reap destruction upon us and the lie; oh how they lie. The detroyer’s are amongst us and they should be feared….. *cough* *cough*I don’t like them and I think they are bad people.

Posted by ioxles | Report as abusive

If God’s work means borrowing newly printed money from the Fed,(anybody else doing this would be on a federal charge of counterfieting!) at 0% and then lending it back to the fed at 4% and the interest is then paid by the taxpayer then. yes. it is trully Gods work.

Posted by Jon | Report as abusive

…it just depends on which God this Luciferian minion is referring to.

Posted by Daniel Green | Report as abusive

It’s a sick joke, almost blasphemous.They make their money by manipulating the market in cahoots with their Fed buddies, not funding industry and building jobs.For all those who like quoting the Bible, remember the sign of the Beast. I hope you all noticed that the March bottom of the SP500 when they started the current market run-up was 666. It’s not God’s work they’re doing.

Posted by Karma | Report as abusive

Whether or not goldman sachs is doing “god’s” work is not the question. The real question is why you silly f%^#s are still peddling this stupid GOD shite. He doesnt exist, get over it. Move on with your lives, and quit trying to legislate this crap.You religious NUTCASES are ruining the WORLD.

Posted by Dan | Report as abusive

” ‘For whosoever hath, to him shall be given, and he shall have more abundance: but whosoever hath not, from him shall be taken away, even that he hath’.This passage of course refers to the acquisition of more knowledge of the truth as theologians tell us; but the Money Kings of Wall Street like to give its interpretation a little twist in their favor, and say that it refers to the acquisition of more greenbacks, by the big fellows from the little ones.In fact this class of people appear to hold the opinion that if they would succeed in anything questionable or crooked, there is nothing like misinterpreting the scriptures their own way, so as to apparently justify them in their rascality before the public.The connection of such men with churches…has done more to spread infidelity and cast ridicule upon the good cause of the church than almost anything else.The success of this class of gamblers has an influence for evil upon the business world that is little realize, success through their methods being a contradiction to the good old business maxim that ‘Honesty is the best policy’ and a travesty upon it.”FRANKLIN KEYES ESQ. 1901

And according to OKRA, SORRYOS, AND BUFFATT, Osama yo mama is the messiah

Posted by gerald odell | Report as abusive

GOLDMAN SACHS, BAILOUT SUPER STARS(Jesus Christ Superstar)WilliamBanzai7Sing along: http://www.youtube.com/watch?v=IvVr2uks0 C8VOICE OF ADAM SMITH JR.Every time I look at you in disgust I don’t understandWhy we let Wall Street just get so out of hand.You could’nt have managed better if you’d had it planned.Why’d you choose to sink AIG in derivative quick sand?If you’d come today you would be lynched by a whole nation.The result of your insatiable greed would be mass extermination.Don’t you get me wrong.I only want to know.CHOIRGoldman Sachs, Goldman Sachs,Who are you? What have you sacrificed?Goldman Sachs Bailout Super Stars,Do you really believe you’re what you say you are?VOICE OF ADAM SMITH JR.Tell me what you think about your former friends at the top.Who’d you think besides yourselves’s the pick of the subprime crop?Lehman, was that where it was at? They are not where you are now?Could Bear have found use for Bernanke’s magic mountain, or was that just bad PR?Did you mean to go like that? Was it a mistake, orCertainly you know your messy death would have been a record Wall Street breaker?Don’t you get me wrong.I only want to know.CHOIRGoldman Sachs, Goldman Sachs,Who are you? What have you sacrificed?Goldman Sachs Bailout Super Stars,Just who the Hell do you think you are?

He doesn’t help them raise capital, he LOANS them capital at INTEREST which is usury (contrary to popular belief, usuary is any interest on a loan, not just some arbitrary “high” interest.) He and his ilk are parasites.

Posted by Alex | Report as abusive

Which “god” does he serve?

Posted by Dana | Report as abusive

Until now Goldman sachs could call “doing God’s work” not because of what they are capable of doing but what they are allowed to do under the current laws.

Posted by Dharumu | Report as abusive

I do believeth that for golden sachth is doing thy work of THE LORD.Let light shine down upon his soul!

Posted by elliot.h | Report as abusive

I love when people are self righteous!HE IS SO self righteous that instead of consulting the shareholders who own his company, oh wait, him and his buddies own enough share to screw the shareholders out of profit and vote themselves these amazing pay packages and bonuses, you have to love your voting rights on common and preffered stock.This guy is really doing god’s work. Man, screwing everyone of money except himself.Please just another greedy Wall street banker.I hope his firm fails when the next wave of the recession hits.That won’t happen, he’ll probably have a hand in orchestrating it.

Posted by Nathaniel | Report as abusive

Of course he is doing God’s work. Religion has always been about raising money….and then using a small portion to benefit people. Yea, he’s spot on. 10% tithing, the government doesn’t even ask for that.

Posted by Anthony Rodriguez | Report as abusive

Wot? Since when did religion and selfless profit not go hand in hand?Whats that saying? What medicine without faith……Seriously, whats faith without medicine? And what is religion without profit?

Posted by Anthony Rodriguez | Report as abusive

what is this? don’t you all know? goldman sachs IS GOD!now, bow down, you fools!

Posted by dr arp | Report as abusive

They may well be doing ‘god’s work’- their ‘god’- the god of Mammon.

Posted by Andrew Marks | Report as abusive

I think it’s about time the Jews change who god is. Jesus is just becoming old-fashioned and his existence is becoming questioned. It was simply a matter of time until they invented some new god to control and profit from the masses. His name is Blankfein. Everyone yield to Him, he is our new lord and savior. Hail Blankfein!

Posted by Matt Williams | Report as abusive

Perhaps those doing God’s work should’ve been allowed to visit their god in the Bankruptcy court.

Posted by Gene | Report as abusive

This guy is overworked. He needs a break.

Posted by Milonja Bjelic | Report as abusive

What does God has to do with trading? What is the social value of trading?GS’ bulk of profits comes from trading and not from raising capital for firms.If making loans available to firms is GS’ business then they are not different from a bank. In other words, they should be regulated as a bank. PERIOD.

Posted by ecogabe | Report as abusive


So GS is just helping out the little guy….outta the shirt off their backs……..When is the last time we heard “small business is the back bone of the country”? Has the fed bailed any of these capital starved business meeks?This says it all though & the bubble re inflates….along with Blankfein’s egotistical head……..and then…….the meek again inherit their debt in the bailout sequel…..?

Posted by Bruce Piggot | Report as abusive

He’s doing a god’s work, but not The God.

Posted by Doug | Report as abusive

We are in strange times, when a corrupt investment firm in bed with the government and the fed. reserve is claiming to do God’s work. Just think if the devil was involved how bad off we would all be.

Posted by m sulli | Report as abusive

That old camel blankfeln is just squirming trying to get through the eye of that needle. Pretty tight fit, eh?

Posted by harry canary | Report as abusive

What a pathetic metaphore. Another smart ass who beleive is doing god’s work, not exactly to benefit humanity but his own pocket. If greed is considered god’s work, it may well rot in hell…

Posted by marusik | Report as abusive