Thursday, December 24, 2009

A sympathetic portrait of Goldman's boss

FT carries a sympathetic portrait of Goldman boss Lloyd Blankfein, not something that he has been getting over the past year. The paper has been fair to him despite the fact that he declined to be interviewed for the article. But Blankfein does have a long-standing relationship with the FT: he sits on their jury for the Business Book of the Year. ( I am not going to pronounce this a conflict of interest).

Blankfein's background is interesting. He was the son of a postal clerk and grew up in a public housing project in the New York's downmarket burrough, Bronx. Now, as CEO of Goldman, he has a $26 mn apartment in the Central Park area. (That's over Rs 100 crore- you could probably acquire an apartment building in Cuffe Parade, Mumbai, at that price). Along the way, he went to Harvard thanks to a scholarship. That's called meritocracy- the US is what it is because it has more of it than any other country.


Anonymous said...

I think you are off the mark on the Manhattan- Cuffe Parade comparison.

From the article, the $23 million pad is on 15 Central Park West where the going rate is around $2900/st ft

which is not very much higher than premium SoBo rates. or for that matter Cuffe Parade rates


The reason his pad is a tad pricy is because it is probably around 10000 sq ft, only slightly larger than an average Mumbai pad :)


Rs. 100 crore gets you 3 flats and a portion of a corridor in some places in Mumbai. Or for that matter Manhattan.


Siddharth said...

President Barack Obama is calling for tougher regulations on banks that would limit the size and complexity of large financial institutions.

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