Ken Langone did Goldman Sachs a lot of favours on CNBC this morning.
The CNBC talking heads were on the topic of Goldman and the report the firm will publish later this week on its findings after the SEC Fraud case. And the former director of the NYSE and the founder of Home Depot attacked everything they said about the firm.
When Kate Kelly said Goldman has been criticisized for its business model shift that placed more emphasis on trading, Langone said, “Everyone did that! Look at Merrill.”
When David Faber said that they helped almost bring down the entire banking system, Langone said, “You are a communist.”
In sum, according to Langone, Goldman is like the Yankees. “Everyone hates the Yankees because they always win,” he says. All that means is they’re the best, and anyone who says otherwise is just being unfair to them.
Then, Langone admitted he owned a lot of Goldman Sachs and is a big fan of Lloyd Blankfein, so obviously, he’s just as biased as the talking heads.
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