Video Interview: Goldman Sachs CEO Lloyd Blankfein with Fortune's Andy Serwer
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What Blankfein doesn't mention is the stealth Goldman bailout. This is why we angry hordes are still stalking. We understand that that the original $10 billion in TARP capital has been repaid. Our questions concern the remaining $60 billion GS received via other stealth bailout conduits: the Federal Reserve, the FDIC, & AIG.
From CNN Fortune:
- As for Goldman's entanglement with the government, Blankfein said he didn't realize the $10 billion the Treasury lent the company last fall when the financial system was teetering would come with so many strings attached.
- "Had I known it was this pregnant with this potential for backlash then I would not have liked it," he said.
- Blankfein also said Goldman didn't need the money, though he conceded the point is moot, as the nine biggest banks weren't given an opportunity to refuse the Troubled Asset Relief Program funds.
- Blankfein added that while he is "not blind to the interests of society," his duty is to serve Goldman shareholders -- which he said ends up being good for the U.S. as well.
- "As hard as some of these issues are, I have to pursue the interests of shareholders," he said. "I can't do too much that subordinates the interests of our shareholders. If I did do that I certainly wouldn't be helping the country."
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Thank you!
