On Wednesday morning on CNBC, Lloyd C. Blankfein, the chief of Goldman Sachs, made a rare on-camera appearance to defend the embattled firm from its detractors, Kevin Roose writes in DealBook blog of The New York Times.
“But he may have inadvertently snubbed another Goldman legend – Henry M. Paulson, Jr. – in the process,” Mr. Roose writes.
Asked by Bloomberg TV what the future held for Goldman, Mr. Blankfein replied, “To refer back to the rise of the emerging markets and wealth creation around the world, my predecessors didn’t go to China. They called it Red China. They didn’t go to Russia or India because there were people in poverty, not people growing their businesses and trading with the rest of the world to the extent they are.”
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