Blankfein Vows to Rebuild Goldman Sachs's Reputation

Lloyd C. Blankfein took the stage Friday at Goldman Sachs Group Inc.'s annual meeting pledging to rebuild the investment bank's reputation tarnished by government civil charges of securities fraud.

The chairman and chief executive said the company will set up a business standards committee that will look into ways the company can confront the current scrutiny over its business practices. He said it was "clear that our firm must renew the core principles that has sustained us for 141 years."

"The last few weeks have been a difficult and disappointing year for the firm," Mr. Blankfein told shareholders. "Questions have been raised that have gone to the heart of our most fundamental value: How we treat our clients."

Read Full Article from Wall Street Journal

- Posted: 2010-05-07 10:35:48

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