Thursday, December 24, 2009

FT Names Lloyd Blankfein Person of the Year

With the headline, Master of risk who did God’s work for Goldman Sachs but won it little love, FT has named Lloyd Blankfein their person of the year.

FT writes:
 For...reasons, both positive and negative, the Financial Times has chosen Lloyd Blankfein as its Person of the Year. His job and his personality have made him the public face of Wall Street during its most testing period since the 1930s.

This is not an unalloyed endorsement of either Mr Blankfein or Goldman, which the FT has sometimes criticised in the past year. Instead, it is a recognition that Mr Blankfein and his bank have taken the leading place in the world of finance, while others have fallen by the wayside.
I'm not sure what the positive reasons are. It is unclear in the FT article. Perhaps it is this:
Mr Blankfein...first financial job at Goldman was selling gold coins in its commodities trading arm...

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