The embattled CEO of Goldman Sachs had a long day on Capitol Hill yesterday, giving all sorts of non-answers to angry lawmakers and squinting a lot. Afterward, he left a message for his flock of distraught traders: "This is Lloyd..."
This is Lloyd on [Tuesday evening] in Washington, DC.
[Earlier today], I along with David Viniar, Craig Broderick and several other current and former Goldman Sachs professionals testified before the US Senate's Permanent Subcommittee on Investigations.
As anticipated, the questioning during the hearing was rigorous, but we tried to remain focused on providing a complete context of our business, how we manage our risk, and the value we provide for our clients and to the broader system. In those instances where the subcommittee raised questions about ethics, we tried to convey the seriousness with which we adhere to the rules and regulations that govern our business, as well as the letter and spirit of our own Business Principles.
In the totality of our testimony, I hope we made clear the confidence we have in all of you - the people of Goldman Sachs - especially your commitment to integrity, and your service to our clients.
Let me remind you that we should anticipate continued external focus on Goldman Sachs for the foreseeable future. Please do not let this distract you from your daily responsibilities.
I am very grateful to our colleagues, former and current, for the preparation that went into their testimonies and for the seriousness with which they approached the hearing.
As we hope we made clear [today], we will continue our efforts to make clear to legislators and regulators around the globe that we take our responsibilities very seriously. We will do everything we can to support bipartisan reforms that restore confidence and integrity to the capital markets.
The Lord hath spoken from within the hostile gates of Babylon. So traders, keep up the hard, honest work you are known for and good things will come from his sacrifice.
[Image via Getty]