When the lens of public ire is focused on you, the concentration of hatred can create the feeling being cooked in a boiler. This is the current feelings within the offices of Goldman Sachs. Whether it’s an article about how they might have caused most of America’s financial problems following the Great Depression or continuous stories on the revolving door between the the firm and the Treasury Department, it’s pretty safe to say that right now main street Americans as well as many good hearts in Wall Street hate Goldman Sachs.
Well don’t worry, America, they’re sorry. According an ABC article Goldman Sachs and Warren Buffet (who is a major stakeholder in Sachs) are planning on starting a new apology program. They are going to put up $500 billion directed specifically for development of small businesses. The program is intended to help “support small business owners, particularly those in underserved communities.” On top of this, the report stated the CEO of GS said while apologizing for poor decisions,
“We participated in things that were clearly wrong and have reason to regret,” Blankfein said during his remarks at the National Association of Corporate Directors in New York City, where he was honored as CEO of the year. “We apologize.”
Thanks Goldman Sachs, that’s all we really wanted. You can keep the billions.Published in