Lloyd Blankfein: 'I'm Sorry'
Ten days ago, John Reed apologized for his role in creating Citigroup. Now Goldman Sachs chief Lloyd Blankfein is apologizing for anything Goldman did to precipitate the financial crisis: "We participated in things that were clearly wrong and have reason to regret," Blankfein said at a conference today. "We apologize." Then he stunned the crowd by announcing that Goldman would be turning over its fourth quarter profits to feed America's neediest, which would still leave the firm with about $16 billion to pay out year-end bonuses. Just kidding! He's not that sorry! [Bloomberg]