Going for Goldman
I am sure there are plenty of good, highly principled, and altruistically inclined individuals who work at Goldman Sachs. (I know of a number of Old Boys employed at GS who fit this description.)
Unfortunately, the Goldman executives who went before Congress earlier this week might make you think otherwise. They seemed to be right out of Central Casting.
“Quick. We need a couple of suits who can stare into the cameras without blinking and use doublespeak in order to keep the company out of hot water. And whatever you do, do not acknowledge guilt or mistakes! Being smug, by the way, is A-ok!”
From a distance it seems that these financial leaders may have been “making a difference,” but it surely wasn’t for their clients’ or for that matter their country’s benefit. Even those of us who believe in free markets shuddered as they spoke.
I hope that, when our present boys are someday in leadership positions in the world of finance and beyond that they’ll be motivated by more than just their own narrow self-interest. And if they do make a mistake now and then, I’ll hope they have the decency and humanity to say, “I’m sorry.”