Rakesh Khurana, a professor at Harvard, told Bloomberg that during his testimony, Lloyd Blankfein exhibited clear signs of not caring about the societal consequences of Goldman’s actions.
When Blankfein appeared before the U.S. Congress, Khurana says:
”[Blankfein’s] field of vision was so narrow that every time we talked about sophisticated investors on the other side…” Khurana said,
“He didn’t realise a lot of those sophisticated investors were proxies for widows and orphans.”
Khurana, a professor at Harvard Business school, said his students aren’t any better. They go blank when he uses words like “fair” and “common good.”
“When I talk to my class and use words like ‘fairness’ and ‘is this right?’ and ‘does this help the common good?’ people are at a complete loss, Khurana says.
So Blankfein, meet the angel looking over your shoulder.
From Khurana’s biography:
Rakesh Khurana is the Marvin Bower Professor of Leadership Development at the Harvard Business School. He teaches a doctoral seminar on Management and Markets and The Board of Directors and Corporate Governance in the MBA program.
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