It’s true; people love to pillory Goldman Sachs, and they really love to rail against the bank’s chief, Lloyd Blankfein.
For some reason, people on the street see Goldman and Lloyd as the embodiment of capitalist greed run amok, despite the fact that all the banks contributed to the financial crisis and pretty much every last one received federal bailout money.
Especially when JP Morgan CEO Jamie Dimon supposedly isn’t the nice guy everyone makes him out to be.
I was at a fairly large dinner party last Saturday night, and found myself sitting next to the wife of a Goldman partner.
She later introduced me to her husband, whose ears perked up when I told him I’d written a biography of Dimon.
“You know,” he said, “we scratch our heads at Goldman every day about that guy. He can be a much bigger bully in the markets than we are, but everyone still thinks he’s a prince and [Goldman CEO] Lloyd Blankfein is the devil.”
But we’re guessing that with all the accusations pouring out that JP Morgan knew months ahead of time that Bernie Madoff was doing something shady, JD won’t stay Mr. Good Guy for long.