Friday, March 16, 2012

Of Muppets and Golden Geese, Part 2

"Muppets always go for the 'nads, Mike"
From Bloomberg News by Michael J. Moore:  "Mayor Bloomberg Visits Goldman Employees After Smith Op-Ed:  New York City Mayor Michael Bloomberg visited Goldman Sachs' headquarters in Manhattan in a show of support after a departing employee publicly criticized the firm’s culture yesterday. “The mayor stopped by to make clear that the company is a vital part of the city’s economy, and the kind of unfair attacks that we’re seeing can eventually hurt all New Yorkers,” said Stu Loeser, a spokesman for the mayor. Bloomberg visited the firm and met with Chief Executive Officer Lloyd C. Blankfein and numerous employees, Loeser said."  This visit seems bizarre in the extreme to your humble scribe.  After all, no one "went postal" at Goldman Sachs.  A guy just quit, albeit very publicly.  Is Mayor Bloomberg so worried about the hit GS's share price took that he feels he has to become the firm's cheerleader to protect his investment?  Or perhaps he's worried about a muppet backlash and felt he had to choose sides?  Let's back up here a moment.  First of all, we don't know if it was an "unfair attack".  Life is unfair, and after all, nothing new was revealed by this one grumpy employee.   Further, given previous revelations about Goldman, its management and employees are perfectly able to take care of themselves.  The guy will be lucky not to end up in a canal with concrete overshoes.  And it's hard to see how this episode "can eventually hurt all New Yorkers" - unless, that is, all New Yorkers are moral scumbags like Blankfein.  (Gee, I hope not.  My youngest is hobnobbing in The Big Apple on Spring Break as we speak.)  At any rate, I don't know much about Mayor Bloomberg - but he has just come down a moral notch in my eyes.  You can tell a lot about a man by the company he keeps.