Goldman Sachs sees hope in Mike Bloomberg – Part 1
Goldman Sachs is the sinking ship that got hole in the bowls in the midst of the 2008 crisis. What made it worse was the Congressional inquiry that took a toll on its stock price at the Street. However, there is one person who is tipped to take the helm to bring the company to safe shores, Mike Bloomberg.
The decades-old veteran in the investment banking sector, now the Mayor of New York City, paid a surprise visit at Goldman’s headquarters. For many it would be considered as a surprise visit but for Sachs, it might be a sight for the sore eyes.
Bloomberg’s unannounced visit to Goldman’s offices and subsequent hour-long chat with Chairman and CEO Lloyd Blankfein quickly stirred up this question among some of my Wall Street sources: ”What’s he really up to, and what went on in that private talk with Goldman’s beleaguered chief?” Will events from that meeting result in Bloomberg becoming the primary choice to replace Blankfein to lead the once premier investment bank out of its sticky woes?
Some Street pros are already speculating that Bloomberg’s visit, unscheduled or not, should have instilled that logic behind the possibility that the ”doer Mayor,” as he has described himself, could energize the company’s pathway towards recovery and progress.
Former Goldman executive Greg Smith’s resignation arising from his critical attack on Goldman Sachs, prompted Bloomberg’s sudden move to lift the spirits of Goldman and its thousands of employees and clients. Smith stomped on the feet of Goldman Sachs stating what he considered as a nest of greed at Goldman, and its gross indifference to the best interest of its clients.