Executives at Goldman Sachs are said to be worried about media backlash when details of compensation and bonuses are reported. Writing today for The Daily Beast, Charlie Gasparino reports that executives are “in a panic” over the investment bank’s reputation, trying to hire a new brand manager, and “even blaming a prejudice against the firm’s Jewish chiefs” led by Chief Executive Lloyd Blankfein. Citing sources inside Goldman, Gasparino reports that “some senior executives say they believe the onslaught of negative stories detailing Goldman’s manifold ties to upper levels of government, charges that it somehow fraudulently profited from the subprime crisis, and now the press about the firm’s record earnings is so out of proportion to reality that the coverage contains an element of anti-Semitism—subtly playing off the racist myth of a conspiracy of Jewish bankers controlling the world for their own benefit…” One executive confided that Blankfein is “scared to death about what might happen when the bonus numbers hit.”
Goldman Execs Worry About Comp Backlash
CEO Lloyd Blankfein is weary of additional negative media attention when Goldman Sach’s bonus figures are released.
August 21, 2009