Forum Post: This SAYS it all - Goldman Sachs CEO on Wikepedia - Lloyd Blankfein

Check out Goldman Sachs CEO on Wikepedia - Lloyd Blankfein: If youve read this below then check out Henry Paulson next. What a joke. By the way these are facts not opinions for those right wing news spinners who like to think the sky is green

3 points pasted from Wikipedia to note on our gift to financial markets-Lloyd:

1) Blankfein earned a total of $54.4 million in 2006 as one of the highest paid executives on Wall Street. His bonus reflected the performance of Goldman Sachs, which reported record net earnings of $9.5 billion. The compensation included a cash bonus of $27.3 million, with the rest paid in stock and options. While CEO of Goldman Sachs Group in 2007, Blankfein earned a total compensation of $53,965,418, which included a base salary of $600,000, a cash bonus of $26,985,474, stocks granted of $15,542,756 and options granted of $10,453,031.[3]

2 -On January 13, 2010, Blankfein testified before the Financial Crisis Inquiry Commission, that he considered Goldman Sachs's role as primarily a market maker, not a creator of the product (i.e., subprime mortgage-related securities).[7] Goldman Sachs was sued on April 16, 2010 by the SEC for the fraudulent selling of a Synthetic CDO tied to subprime mortgages, a product which Goldman Sachs had created.[8] With Blankfein at the helm Goldman has also been criticized "by lawmakers and pundits for issues from its pay practices to its role in helping Greece mask the size of its debts."[8] Blankfein testified before Congress in April 2010 at a hearing of the Senate Permanent Subcommittee on Investigations.[improper synthesis?] He said that Goldman Sachs had no moral or legal obligation to inform its clients it was betting against the products which they were buying from Goldman Sachs because it was not acting in a fiduciary role.[9]

3- On January 13, 2010, Blankfein testified before the Financial Crisis Inquiry Commission, that he considered Goldman Sachs's role as primarily a market maker, not a creator of the product (i.e., subprime mortgage-related securities).[7] Goldman Sachs was sued on April 16, 2010 by the SEC for the fraudulent selling of a Synthetic CDO tied to subprime mortgages, a product which Goldman Sachs had created.[8] With Blankfein at the helm Goldman has also been criticized "by lawmakers and pundits for issues from its pay practices to its role in helping Greece mask the size of its debts."[8] Blankfein testified before Congress in April 2010 at a hearing of the Senate Permanent Subcommittee on Investigations.[improper synthesis?] He said that Goldman Sachs had no moral or legal obligation to inform its clients it was betting against the products which they were buying from Goldman Sachs because it was not acting in a fiduciary role.[9]