Saturday, May 1, 2010

Lloyd Blankfein: Shut Up, Already

There is no way Goldman Sachs is going to win their case in the court of public opinion with their current PR approach. The latest move by the firm is to send CEO Chairman Lloyd Blankefein on the show of  softball throwing Charlie Rose.

How much of a softball thrower is Rose?

When Treasury Secretary Geithner was put under new handlers and sent out into the world to redo his damaged image, his new handlers sent him for his first interview to the safe confines of Rose's studio.

It's a tough place to get into trouble. The tone deaf Blankfein probably didn't do too much additional damage, although he did manage to make this idiotic statement about Wall Street:
You could call it a casino, but if it is, it’s a very socially important casino.
At times the interview turned into a kind of therapy session where Blankfein discusses his weaknesses:
Goldman Sachs must improve communication with the public, Blankfein said.

“That’s a huge challenge, I would just say it’s my deficiency,” he said.
Ah, no kidding Lloyd. We had that figured out when you told FT you were doing "God's work". You have shifted a bit seeing you now consider Wall Street a casino, but Lloyd isn't there a local chapter of Toastmaters where you could work out your communications problems, instead of practicing with Goldman Sachs' reputation on the line?

Who the hell is prepping Blankfein? Blankfein is not the type, clearly, to be coming up with allusions on his own to God, casinos and crap tables. I'm thinking that Lucas van Praag is not a long-term survivor as head of PR at Goldman.

If Goldman wants to survive, they have to stop sending Blankfein on these nutty kamikaze missions. There are 32,000 f'ing employees at Goldman. They need to find a sob story. Find someone at Goldman like a 37 year old female single mother, whose husband died in the WTC attack. Show her wrangling a trade to get an extra oil supertanker into a New Jersey port just in time for Memorial Day that will mean lower oil prices for East Coast travelers. Put that on TV.That's how you get people to understand what the honest side of Goldman does.

Lloyd use your head for something else besides keeping your nose at a 180 degree angle to the ground.

1 comment:

  1. I'd LIKE to feel positive about Goldman Sachs, but when Blankfein is doing his best to channel the ghost of Montgomery Burns, watcha gonna do? When America lends it's money to creeps like this, do you expect anything different?
    America deserves Goldman Sachs, and Goldman deserves a leader like Blankfein. Until the markets and the rest of this country clean up our culture, our ethics, our lending, our financial situation, and our very souls, we're getting exactly what we asked for, exactly what we deserve, and exactly what we will reap.