Bankers need to put their money to work, President Obama says. On Sunday, he said that the “fat cat bankers,” a safe expression to use when appealing to Middle America, “still don’t get it.” So, he’s pushing them to make more loans and accept the fact that regulation is coming.
For its role in the global financial crisis, which had an impact of several trillion dollars, Goldman Sachs feels just awful. The incredibly prestigious bank, one of the few to come through the market mayhem looking pretty damned good, wants you to know that it’s sorry. CEO Lloyd Blankfein said at a conference in New York, “We participated in things that were clearly wrong and have reason to regret.” And then, he pulled the trigger on the big one: “We apologize.”