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If Goldman Sachs wants to redeem its reputation, it would have to donate "at least $1 billion" to charity, says billionaire Pete Peterson. "'Only a donation that size would 'have much resonance in the public,' Peterson, the 83-year-old co-founder of Blackstone Group LP, the world's largest private-equity company, said in an interview in New York yesterday." Fair enough. But we're thinking Peterson might need to rename a concert hall or build a new hospital if he expects us to not immediately think of his fame-obsessed grandson every time we hear the name "Peterson." [Bloomberg]