Gasparino: Goldman Sachs' Report On Business Practices Designed To Keep Blankfein's Job

Fox Business Network (FBN) Senior Correspondent Charlie Gasparino is reporting that the internal review and report of business practices inside Goldman Sachs was “designed to do one thing and one thing only, and that is to keep Lloyd Blankfein's job as both CEO and Chairman of Goldman Sachs.” Gasparino says that this report “takes the emphasis off” Blankfein and allows him to survive as CEO and Chairman “in the short term.” Excerpts from the report are below. On the real intent behind Goldman Sachs' business practices report: “Sources inside Goldman Sachs are telling the FOX Business Network that this report was designed to do one thing and one thing only, and that is to keep Lloyd Blankfein's job as both CEO and Chairman of Goldman Sachs. He has come under tremendous pressure this year to at least give up the chairman job; have someone independent in there looking over the operations and this report was designed to say listen, we made some mistakes, we are going to correct those mistakes, but it left out the key thing that investors were looking at and that is whether or not Lloyd Blankfein should have his job broken up. This report takes the emphasis off him and on these meaningless gestures. So he survives in the short term.”