Will It Never End?

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There are many models by which one recovers from public disgrace (Milken comes to mind as an excellent example). Recovery from rank hypocrisy is (or at least should be) far more difficult. Unfortunately, Spitz is still at it:

In my last column, I wrote about how the New York Federal Reserve Bank, the most powerful financial institution in America after the national Fed, has been entirely dominated by Wall Street bankers, without any meaningful public input. In this column, I want to suggest how this governance crisis could be remedied.

Unfortunately, Spitzer has a riled and willing audience and he need only continue to intone barbed breathings about the evil of it all and his audience may well give him a pass on that whole slew of prostitutes thing. Sure, it is amusing to watch Slate capitalize on the detritus of Spitzer's career. But that amusement will run thin quickly when Spitzer leverages it into his next slot- as you know he will.
How To Fix the New York Fed [Slate]

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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]