When Business and Politics Mix, ‘Character Really Counts’


Blankfein: I attempt to be sincere about these items. I didn’t help Trump — I used to be taking photographs at him — so I don’t really feel this fashion personally, however I feel as a bunch, that is what was occurring: For Wall Road, it was decrease taxes, much less regulation. He was delivering what “we” needed. We put a clothespin on our nostril. We weren’t unaware of the type of dangers we have been taking. We repressed them.

So that you assume the dangers have been nicely understood?

There was no person who ever received to the presidency who was extra clear and higher understood than him. Within the minutes earlier than he received elected, these NBC tapes got here out. Did individuals not consider the 20 girls who got here ahead? Do individuals assume he paid his taxes all that point? And definitely for the second election — what was there left to learn about him?

So individuals did know what they have been doing. They did it due to their self-interest. Consider one other historic instance: How about these plutocrats in early Nineteen Thirties Germany who favored the truth that Hitler was rearming and industrializing, spending cash and getting them out of recession and driving the economic system ahead via his stimulus spending on struggle materials? I don’t need to go too far with that, however simply to point out you the way I’m occupied with it.

So, sure, they supported him. And I feel that help will not be undone by some one-minute-to-midnight deathbed confession that, “Oh my God, this was an excessive amount of for me.”

How do you are feeling about individuals who went to work within the Trump administration? A number of of them have been Goldman alumni, together with Treasury Secretary Steven Mnuchin and Gary Cohn, who was a prime financial adviser.

I didn’t vote for him, however early within the administration I had hopes and expectations that it will break to the excessive facet, as most individuals do once they get into that workplace and sit behind that desk. So I don’t fault anybody for getting in early, like my Goldman mates.

And as soon as in, I don’t actually fault individuals for staying, as a result of when you’re in, I’d reasonably have them there than not there. I don’t assume we’d have been higher off had Mnuchin resigned.



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