It’s not that Goldman Sachs wouldn’t put Xi Jinping’s kid on the payroll. It’s just that the bank won’t be so painfully obvious about why.

“Not China specifically, but I’ve had people who say, ‘Look, my kid’s in the blankety-blank business school in the United States, really would like a job in finance. He really would like a job at Goldman Sachs,’ ” Mr. Blankfein said in an interview with CNBC at the World Economic Forum in Davos, Switzerland. “I’m thinking about how it could look. So we have a lot of processes to vet these things….”

“If you precluded yourself from hiring any kid that was affiliated with somebody, whose parent was an important official or an important industrialist or executive, you wouldn’t have very many people left,” Mr. Blankfein said in the television interview. “Who do you think the kids are that are multicultural and filling Harvard Business School?”

Asked whether he had seen any hiring that looked like a bribe, Mr. Blankfein paused for a moment.

“Not firsthand,” he said.

Goldman’s Cautious Approach to Hiring the Well-Connected [DealBook]

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Comments (5)

  1. Posted by Birth | January 27, 2014 at 4:34 PM

    One more time Jon: First, a man and a woman fall in love, then the man farts on the woman’s strange. Filling the woman’s strange with air, so that the woman can queef in the man’s face and a baby is born.

  2. Posted by Guest | January 27, 2014 at 5:04 PM

    If I ignored every possible good connection that can be made by hiring the kids of important people… We'd be hiring PhD candidates from DeVry and call ourselves WaMu.

    - Lloyd

  3. Posted by Guest | January 27, 2014 at 8:25 PM

    Made it through my super day at GS based on my ability, not my lineage.

    -Blankety-blank Business School Graduate

  4. Posted by AP Clerk | January 28, 2014 at 7:17 AM

    "Not firsthand"

    I leave it to HR and Finance as to how they process the 'application fee'.

  5. Posted by guasto | January 28, 2014 at 10:51 AM

    so you can tie a half-windsor and use the rule of 72?