Patt Morrison for November 18, 2009

Goldman Sachs mea culpa: Can they be trusted?

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Goldman Sachs mea culpa: Can they be trusted?

Goldman Sachs, the mega-successful investment firm that everyone loves to hate but everyone loves to profit off of, did something yesterday that few other financial firms have done since last year’s economic melt down: they apologized. Goldman’s CEO apologized, saying that the firm “participated in things that were clearly wrong and we have reason to regret” them—and they then announced a $500 million charitable grant to small businesses and education programs, helping them to pull out of the recession. Are there ulterior motives to Goldman’s apology, and are they really to blame for our economic woes?

Guest:

Andy Stern, president of Service Employees International Union (SEIU)

Charles Ellis, managing partner of pro-bono investment group Partners of ’63; founder of the business consulting firm Greenwich Associates; author of “The Partnership: the Making of Goldman Sachs”


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