What Blankfein Is Up Against

http://www.futureofcapitalism.com/2010/04/what-blankfein-is-up-against

Bloomberg News begins an article about Lehman's Richard Fuld's compensation by declaring, "Before Lloyd Blankfein of Goldman Sachs took his place, Richard S. Fuld Jr.'s angry face was the universal symbol of Wall Street greed."

Is that even true, that Lloyd Blankfein's face is "the universal symbol of Wall Street greed"? It's be one thing if this claim appeared in Mother Jones, where the Blooomberg reporter who wrote the article, James Sterngold, is a regular contributor. (Update: Bloomberg PR e-mails to correct that he used to be a contributor but hasn't written for Mother Jones since 2008.)

But this is Bloomberg, the news service that prides itself on straightforward and direct news reporting that separates news and opinion. The article isn't even about Mr. Blankfein, and there is no indication that he or his firm, which by the way is a big Bloomberg customer, were given a chance to respond to the cheap shot.

Bloomberg's owner, the mayor of New York, has been sticking his neck out lately a bit defending the financial services industry from attacks in Washington. In this case it looks like one of the reporters he is paying is displaying the same hostility.

by Ira Stoll  |  Apr 30, 2010 at 9:56 am Related Topics:  Capital Markets Regulation, Compensation, Goldman Sachs, Press receive the latest by email: subscribe to the free futureofcapitalism.com mailing list