Ahead of tomorrow's hearing, there have been a flurry of stories about Goldman Sachs everywhere you look, including this here site. But it was only Kate Kelly's Wall Street Journal article that really hit home. For whatever you think about Goldman Sachs and its employees, they're just people. Just men. Just financial services hacks who, when they're not coming up with nefarious plots to take over the universe (JK...JK I'm serious), are shoveling food in their mouths as quickly as possible for sport.
Goldman Sachs Group Inc.'s mortgage traders, under the spotlight because of the U.S. government's fraud lawsuit against the securities firm, made markets in more than just bonds during the real-estate bubble. They also cast bets on a White Castle hamburger-eating contest. In December 2007, after the firm distributed multimillion-dollar bonus checks in part thanks to bets on a mortgage meltdown, about 10 Goldman mortgage traders, surrounded by dozens of cheering colleagues, wolfed down the burgers, according to attendees. Bystanders wagered cash on how many burgers the traders could eat.
If you care about Lloyd and Co at all, and maybe you don't, tomorrow you'll step up to the plate and do one of these (but after the hearing so I can provide coverage, otherwise there's no point). And if not for Lloyd, do it for Pookie.