Tuesday, November 17, 2009

We're Sorry (but for what, we will not reveal...)

I have always looked suspiciously upon the concept of Confession, particularly (but not limited to) when the Confession is not supported by deeds and substantive changes in behaviour. Surely, any self-respecting deity, at the very least to keep the others in-line, would kick a bit of ass. So I wondered aloud whether there was some higher spiritual purpose when I read the following...

Goldman Sachs Chief Blankfein Apologizes for Role in Crisis
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By Christine Harper

Nov. 17 (Bloomberg) -- Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., apologized for the firm’s role in some of the activities leading to the financial crisis.

“We participated in things that were clearly wrong and have reason to regret,” Blankfein said at a conference in New York hosted by the Directorship magazine. “We apologize.”

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net.

Last Updated: November 17, 2009 14:13 EST

(Editors note: Surely Ms Harper of Bloomberg meant to add: Mr Blankfein stopped short of returning profits, contributing them to charitable institutions, or asking for the return of bonuses for charitable contribution (i.e. return to the people via US Govt??) from employees awarded them in activities that Mr Blankfein and Gioldman Sachs now regret and deemed "clearly wrong". No specific list of such activities was provided to give legislators, magistrates, special prosecutors, or omsbudsmen around the world further insight into precisely what they were)


Anonymous said...

Waiting for Gordon Brown, Barney Frank, Franklin Raines, Chris Cox, Alan Greenspan, Ben Bernanke, Tim Geithner, every member of Chinese Politburo and PBoC in charge of FX policy, and Andrew Cuomo's apologies. I predict it will be a long wait...

phoneranger said...

What did Chris Cox do to require an apology? He didn't do anything.