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Bloomberg Defends Goldman Sachs in Wake of Scathing Op-Ed

Friday, March 16, 2012

Mayor Michael Bloomberg says the attention given to a Goldman Sachs' employee's scathing editorial about the company is "ridiculous."

On his weekly appearance on WOR Radio Friday, Bloomberg said that he had visited the company to express his support for the Wall Street giant.

Bloomberg says people should keep in mind that most of the company's clients are sophisticated corporations and financial institutions.

The mayor, who got his start on Wall Street, says Goldman is "a company that's here to make money. That's what they do."

He says it's his job to support companies that provide a tax base for the city and employ its residents.

The London banker launched his dramatic public resignation Wednesday in a New York Times Op-Ed. The article has been widely circulated online.

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Comments [6]

Robert from NYC

Oh doe chrissake what the heck to you expect a billionaire who probably made his billions, or at least most of them, from Goldman Sachs. Bloomberg is a douche bag and unfit mayor who has done nothing but exploit this city through all his developer friends. He's done his best to make this a city only of rich friends. Check out how he's destroyed the Bronx with all the cheap development over his years as mayor. It is something that will be revealed not long after he is out of office and everything collapses around all of US while he fiddles in his Bermuda or Israel home... or both!

Mar. 16 2012 05:30 PM
lloyddobblerNJ from NJ

Bloomberg's comment about the attention given to the Greg Smith story is a lot more ridiculous than said attention. An executive leaves and throws lightening bolts at the company; that's a big deal, and it's going to get lots of attention, and it's completely understandable that it would. Showing support for a company that contributes majorly to the NYC tax base, sure, I get it... but looking down his nose and scoffing at the attention the story got is silly.

Mar. 16 2012 04:31 PM
AlisonK from New York, NY

The op-ed criticism of GS seems pretty light to me, especially given that people have been talking about the changing culture at GS for years - at least since it went public. Instead of self-evaluating, these guys seem to be closing ranks to defend their ways. If nothing else, that seems like PR foolishness. And now, Mayor Bloomberg has joined their ranks. And that's too bad.

Mar. 16 2012 02:15 PM
Gosto Tothiwim from Silicon Valley

Bloomberg is just trying to protect his investments. No business can be trusted to give up a short-term profit no matter the harm. We can only try to mitigate their worst practices using thorough regulation and oversight.

Mar. 16 2012 02:03 PM
Great Depression from America

Occupy Wall street is like Obama goin golfing or som both doing same thing... nothing I cant believe Occupy wasted everyones Time

Mar. 16 2012 11:03 AM
Tosia McCormick from Manhattan

Apparently, Mayor Bloomberg has learned nothing from Occupy Wall Street and appears to have a tin ear as to the mood of the country when it comes to Wall Street. He can afford it; he hasn't been chewed up in the culture of greed of which Goldman Sachs is only the latest example. There's a reason why this op-ed caused a firestorm. It simply "outed" what we all sensed was the attitude of Wall Street towards the rest of us.

Mar. 16 2012 10:42 AM

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