Lloyd Blankfein

  • News

    Area Man Recounts Brush With Greatness

    In this case, greatness being Lloyd Blankfein’s glistening, stark-naked body.

    Mr. Smith outlines moments when he came into close contact with Goldman’s chairman and chief executive, according to pages reviewed by The Wall Street Journal. Mr. Smith tells of one near-encounter when he saw Mr. Blankfein, sans clothes, after taking a shower at the gym. Mr. Blankfein was “air-drying,” Mr. Smith writes, something Mr. Smith took not as a display of power but as something men of an older generation tend to do. Another up-close-and-personal moment with the big boss came when Mr. Blankfein and Berkshire Hathaway Inc. Chief Executive Warren Buffett walked through the Goldman trading floor the day after Mr. Buffett’s $5 billion investment as Goldman was reeling in 2008. In the book, Mr. Smith says he had a co-worker snap a photo as he stood near Mr. Buffett.

    Greg Smith: I Saw Blankfein Naked [Deal Journal]

    / Oct 18, 2012 at 7:54 PM
  • News

    Bloomberg: Not One Bank CEO Can Fill Jamie Dimon’s Shoes, Especially Not That Guy From Australia Who Doesn’t Own An Iron

    Earlier today, Bloomberg ran a lengthy piece about the latest crisis on Wall Street: a lack of Jamie Dimon. Specifically, a lack of Jamie Dimon telling meddlesome regulators, anti-industry populists, know-nothing Congressmen, and hypocrite bastard newspapers where they can go and what they can suck. True, it’s not as though he’s gone anywhere, and he’s still reminding people “it’s a free fucking country” but “juggling multiple investigations and a $5.8 billion trading loss on wrong-way bets on credit derivatives” has left his hands a little tied and, some believe, cost him his once untouchable “stature” in the industry.

    And while one should never simply offer problems without solutions, Bloomberg isn’t gonna sugarcoat this one: when it comes to “any kind of credible statesmen” to step in for JD, Wall Street is shit out of luck and not just because no one besides Lloyd came close in sales of their respective Bankers At Work And Play pin-up calendars. Among current CEO’s, Lloyd Blankfein, Brian Moynihan and Vikram Pandit are deemed too busy “fixing their own firms or repairing their reputations,” while Wells Fargo chief John Stumpf, though respected among his peers, is ruled out due to geography (“Part of Jamie’s fitting into that role was his natural brashness as a Wall Streeter and New Yorker, and that is not John”).

    But hey, what about that James Gorman guy? Runs Morgan Stanley, is based in New York, has been known to put a foot up an ass when necessary? Don’t even get Bloomberg started.

    James Gorman, 54…doesn’t fit the Wall Street titan stereotype. The Australian prefers a rumpled tuxedo he bought as a business school student in 1980 to Armani for black- tie events, and he stocks Vegemite in the executive kitchen.

    Or maybe perhaps all that makes him perfect for the gig? The way we see it, Jim Gorman doesn’t have the time or patience for fancy extras like unwrinkled suits and burgers made from foie gras-fed cows. All he cares about is not taking shit, or prisoners. Someone asks him, “What is this Vegemite stuff,” he knocks their two front teeth out. You suggest maybe he could have ironed his shirt before that gala, he takes out that iron and smashes you in the face with it. You want a worthy successor for the job, you’ve got him.

    Wall Street Leaderless In Rules Fight As Dimon Diminished [Bloomberg]

    / Aug 21, 2012 at 4:32 PM
  • News

    Mexican Secretary Of State Blankfein?

    Mr. Blankfein did not rule out working in government after his tenure as the chief […]

    / Jul 18, 2012 at 5:22 PM
  • the boy who would be king

    Gary Cohn Is Very Happy Doing What He’s Doing i.e. Waiting For Someone To Pick Up The Hints He’s Been Dropping And Retire Already

    “Of course I would like to be CEO of Goldman Sachs, but I am very happy in the role and job I’m in now and I’ve a great job and a great opportunity in front of me. I am very happy doing what I am doing.”

    Related: Report: Lloyd Blankfein and Gary Cohn May Not Be Splitting A Milkshake With Two Straws Anytime Soon

    / Jun 20, 2012 at 3:48 PM
  • News

    Meredith Whitney Not Worried About Jamie Dimon’s Ability To Handle House Financial Services Committee, Unlike Some Chief Executives She Knows

    As you may have heard, later today Jamie Dimon will once again testify on Capitol re: a certain whale’s multi-billion dollar losses. Unlike last week’s hearing, conducted by the relatively reasonable Senate Banking Committee, this time Dimon will face questions and screeching from the relatively bat-shit House Financial Services Committee, a group of people we hope will not hold back. Yet despite the HFSC’s history of making witnesses look good, not matter how egregious their offense, by conducting inquiries in a manner that would suggest recreational bath salts abuse by the Congressmen and women, Bloomberg’s Tom Keene expressed worry earlier this morning about Dimon’s ability to navigate the hearing.  Would today be “tougher” for the JPM chief, Keene asked Bloomberg TV Surveillance guest Meredith Whitney? According to the analyst, Dimon be more than fine and while we’re on the subject, not that you asked, she can think of another bank CEO who’d crack under Congressional questioning on account of the fact that he doesn’t have eyes you could get lost in.

    So, 1. How dare you, lady? Lloyd’s impish smile and comedic timing don’t do it for you? And 2. We thought these kind of blows were reserved for Vikram.

    Banking Industry Must Reinvent Itself, Says Whitney [Bloomberg TV]
    Related: Meredith Whitney Cannot Stress Enough How Little She Thinks Of Citigroup

    / Jun 19, 2012 at 11:32 AM
  • News

    Lloyd Blankfein Wants To Be Buried In The Backyard Of Goldman Sachs

    Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs for the past six […]

    / Jun 13, 2012 at 2:18 PM
  • GC: That sunscreen's not gonna rub itself in

    Would-Be Goldman Partners Will Have To Work Extra Hard This Year To Gain Brotherhood Of The Sach Status

    As Goldman Sachs shrinks, its elite inner circle will also be getting smaller. The Wall […]

    / Jun 7, 2012 at 12:12 PM
  • News

    Fourth-Highest-Paid Bank CEO Made Negative Ten Million Dollars in 2011

    Here is a fun thing we can do, which is put arbitrary numbers in a […]

    / Jun 5, 2012 at 4:43 PM
  • News

    Lloyd Blankfein Finally Gets To Be The Prettiest Girl At The Ball

    Time was, Jamie Dimon was the most popular CEO on Wall Street and America’s “Least Hated Banker,” for reasons that included the fact that the man has soulful blue eyes, charisma out the ass, and was in charge of one of the banks that a) didn’t go out of business during the financial crisis, like Lehman and Bear and b) supposedly didn’t actually need the bailout money the government made it take (as JD has said previously), like Bank of America and Citigroup. The man, in the hearts of many and especially the adoring press, could do no wrong. Which is why it probably stung a lot that Lloyd Blankfein, a Wall Street CEO who also possesses more charm than a person would know what do do with, who was also in charge of a bank that neither went out of business during the financial crisis nor required the bailout money it was forced to take (according to GS), and who is also the owner of a pair of baby blues, though in his case ones that sparkle, could only do wrong. And while LB is not one to gloat at another’s misfortune, especially that of a friend, he’s obviously feeling pretty good about being living proof of the old saying, “only one Wall Street CEO’s balls can be in a vise at a time,” and right now it’s JD’s turn.

    Dimon did not attend the annual Robin Hood Foundation party [last night], but Blankfein was there, enjoying a rare night out of the spotlight. He shook hands, introduced his wife and, grinning broadly, posed for pictures. For months, Goldman Sachs has been portrayed as the callous Wall Street behemoth whose executives collected giant bonuses while America’s housing crisis worsened and unemployment rose. But Monday night was different. “No one cares about Lloyd tonight. It is Jamie against the world, and that’s got to feel good for Lloyd,” another hedge fund manager said.

    And this is just the beginning. First, they stop calling you Satan and claiming you poisoned their food, next glowing profiles and cover stories devoting major column inches to your rippling biceps and the throngs of women you beat off with a stick.

    Dimon Pushes Blankfein Off Hot Seat At Charity Gala [Reuters]
    Robin Hood Scene: Blankfein, Soros, Rihanna [Bloomberg/Photo]

    / May 15, 2012 at 4:16 PM
  • News

    Charlie Gasparino: Rumors Government Is Planning To Nail Four On Wall Street Probably Only Rumors But Listen Up Anyway

    Point: “The latest urban legend to spread on trading desks and through the executive suites on Wall Street goes something like this: coming this fall, as President Obama makes his final push for a second term, his Justice Department will finally give the public what it wants in the form of an arrest of a major Wall Street figure for his role in the financial crisis. The men at the top of this “October Surprise” list are two of the more infamous figures in the banking business: former Lehman Brothers chief executive Dick Fuld and current Goldman Sachs chief executive Lloyd Blankfein. Using the Justice Department for political purposes is, of course, pretty sleazy.

    Counterpoint: “…But after speaking to my law enforcement sources — and you can throw people who work at the Securities and Exchange Commission and the Justice Department in this category — I give low probability for this urban legend coming to fruition.

    Regardless:

    “Here’s what I am told, confirmed by two senior law enforcement officials involved in the insider trading probe: investigators are looking at charging someone they describe as a “big fish.” The person has been described as someone I would know, which since I cover Wall Street, means that it’s a major financial type implicated in the matter. I cannot be certain of this because my sources refused to provide any additional details; the case isn’t complete. It involves cooperators, which means that it might go forward or it might not.

    So the October Surprise is a very real possibility, much to delight of journalists like myself. But before rejoicing we in the media should take a deep breath. These same law enforcement sources investigating insider trading among Wall Street fat cats and other corporate titans are also looking at the alleged improprieties of a major journalist who covers stocks. That case, like the other, isn’t completed, but both have been described as “moving forward.” In other words, stay tuned.

    An October Surprise On Wall Street [HP]

    / May 1, 2012 at 1:21 PM
  • News

    Alec Baldwin Accuses Gary Kaminsky Of Driving To Work In A Hyundai

    [via AlecBaldwin, earlier, related]

    / Apr 25, 2012 at 2:00 PM
  • News

    Your Lloyd Will Never Leave You!

    Back in February, a disturbing report was published claiming that Lloyd Blankfein had plans to step down from his position as CEO of Goldman Sachs “as early as this summer.” The idea of a world without Blankfein’s sass, twinkle, street roots, and I-am-unable-to-hold-back-exactly-what-I-think-of-what-you’re-saying-via-the-expression-on-my-face face was more than a little unpalatable and extremely tough to take. Luckily, we don’t have to. Appearing on CNBC earlier today, Lloyd told Gary Kaminksy that 1) former employee Greg Smith never brought up any of his gripes in 360 reviews and 2) he’s not going anywhere.

    “I have no plans to leave,” Mr. Blankfein said Wednesday, while insisting that his board has never suggested he step down…[as for] Mr. Cohn, a long-time deputy of Mr. Blankfein who is widely touted as his possible successor, Mr. Blankfein said the board has a list of possible CEOs in mind “including, but not limited to, Gary.”

    LB also noted that the major mistake made by Goldman running up to the financial crisis was working with les incompetents. “The biggest threat to Goldman—the existential threat—was the poor performance and bad risk management by some competitors with who we have business relationships,” he said.

    Goldman CEO: I’m Not Leaving [Crain’s]
    Goldman Sachs CEO: ‘We haven’t gotten everything right’ [Video]

    / Apr 25, 2012 at 1:45 PM
  • News

    Bonus Watch ’12: Sixth Year Goldman Sachs CEOs

    Lloyd Blankfein’s compensation dropped 35 percent, while his in-a-mood president got a raise.

    / Apr 13, 2012 at 1:18 PM
  • News

    Report: Lloyd Blankfein and Gary Cohn May Not Be Splitting A Milkshake With Two Straws Anytime Soon

    Matt and Ben. Penn and Teller. Bert and Ernie. Gary and Lloyd. As those who […]

    / Apr 13, 2012 at 12:45 PM
  • lloydblankfeingarycohngoldmansachs

    News

    Goldman Sachs Can Fix This

    A week ago today, a man named Greg Smith resigned from Goldman Sachs. As a sort of exit interview, Smith explained his reasons for departing the firm in a New York Times Op-Ed entitled “Why I Am Leaving Goldman Sachs.” The equity derivatives VP wrote that Goldman had “veered so far from the place I joined right out of college that I can no longer in good conscience say I identify with what it stands for.” Smith went on to note that whereas the Goldman of today is “just about making money,” the Goldman he knew as a young pup “revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients.” It was a culture that made him “love working for the firm” and its absence had stripped him of “pride and belief” he once held in the place. While claiming that Goldman Sachs has become virtually unrecognizable from the institution founded by Marcus (Goldman) and Samuel (Sachs), which put clients ahead of its own interests, is hardly a new argument, there was something about Smith’s words that gave readers a moment’s pause. He was so deeply distraught over the differences between the Goldman of 2012 and the Goldman of 2000 (when he was hired) that suggested…more. That he’d seen things. Things that had made an imprint on his soul. Things that he couldn’t forget. Things that he held up in his heart for how Goldman should be and things that made it all the more difficult to ignore when it failed to live up to that ideal. Things like this:

    / Mar 21, 2012 at 2:12 PM
  • News

    Resignation Letter Reveals Goldman Sachs Is In The Business Of Making Money, Hires People Who Don’t Know How To Tie Their Shoes

    Greg Smith is a Goldman Sachs “executive director” and “head of equity derivatives” in Europe, […]

    / Mar 14, 2012 at 11:40 AM
  • News

    Looking To Land A Gig At Goldman Sachs? Pack Up Your Wives And Head West

    The bank’s Salt Lake office is on a hiring spree.

    / Mar 9, 2012 at 2:38 PM
  • lloyd blankfein

    Banks

    Goldman Employees May Only Have A Few Months Left To Enjoy The Lloyd Face / Get Used To The Gary Thigh

    Lloyd Blankfein may step down as chief executive of Goldman Sachs as early as this summer; and president and chief operating officer Gary Cohn is the lead candidate to replace him, according to a Goldman executive and a source close to the firm. A Goldman spokesman declined to comment. To be sure, anything can happen over the course of the next few months and the departure of Blankfein, 57, is not certain. It is still up in the air whether Blankfein wants to step down. It would also not be unheard of for Blankfein to share the role of CEO, as so many others at Goldman have in the past. Former co-heads include John Weinberg and John Whitehead; Robert Rubin and Stephen Friedman; and Jon Corzine and Henry Paulson. … It seems increasingly certain that Gary Cohn would replace Blankfein. [Fortune, earlier, earlier]

    / Feb 17, 2012 at 5:00 PM
  • News

    Caption Contest Wednesday: A Play In Two Acts

    [via NYSD]

    / Oct 19, 2011 at 3:51 PM
  • Hedge Funds

    Steve Cohen To Make Sure TriState Area Superbowl Will Cause All Other Super Bowls To Bow Down Before It In Awe

    Yes, Super Bowl XLVIII is a long way off. Yes, it’s hard to get jazzed […]

    / Sep 28, 2011 at 4:21 PM
  • Banks

    Morgan Stanley Joins Goldman Sachs In FirmScaping

    Back in August, it was revealed that Goldman Sachs had added a disturbing element to […]

    / Sep 27, 2011 at 11:57 AM
  • Regulation

    Jamie Dimon Will Use The Phrase “Anti-American” Until You People Get It

    Jamie Dimon of JPMorgan Chase launched a tirade at Mark Carney, Bank of Canada governor, […]

    / Sep 26, 2011 at 10:56 AM
  • News

    John F. W. Rogers’ Power Reveals Itself In Subtle Ways

    John F. W. Rogers, some say, is “the single most powerful person at Goldman Sachs,” and […]

    / Sep 6, 2011 at 3:35 PM
  • News

    Charlie Gasparino Vows To Never Stop ‘Busting’ Lloyd Blankfein’s ‘Balls’

    In a recent interview with New York, Lloyd Blankfein said “I’m tired of [Charlie] Gasparino. […]

    / Jul 25, 2011 at 2:54 PM
  • Goldman Sachs, News

    If You Cut A Lloyd, Does He Not Bleed?

    The past few years have not been the best of times, professionally speaking, for Lloyd […]

    / Jul 25, 2011 at 10:17 AM
  • News

    Warren Buffett Doesn’t Want To Imagine Goldman Sachs Without Lloyd Blankfein

    At the annual Allen & Company conference here, DealBook asked Mr. Buffett whether he thought […]

    / Jul 7, 2011 at 4:06 PM
  • News

    Blankfein Apparently Unaware That Ladies (Gentlemen, Small Children And Puppies) Love Lloyd

    As evidenced by an absurd debate he had last night at Chelsea Piers.

    / Jun 29, 2011 at 3:21 PM
  • News

    Guy Who Vaguely Resembles Lloyd Blankfein A Contender For Lloyd Blankfein’s Job

    Back in April, both the New York Times and Charlie Gasparino claimed they’d heard Lloyd […]

    / Jun 27, 2011 at 9:53 AM