- Former Goldman Sachs CEO Lloyd Blankfein was happy to be watching from the sidelines this week as CEOs from seven of the country’s largest banks appeared before Congress.
- "Boy, I really miss my old job!!!" Blankfein tweeted.
- Watch Goldman Sachs trade live.
Former Goldman Sachs CEO Lloyd Blankfein was happy to be watching from the sidelines this week as members of Congress grilled CEOs of the country’s largest banks.
"Boy, I really miss my old job!!!" Blankfein tweeted as the hearings were underway.
Blankfein’s quip came as the leaders of seven of the largest US banks were hauled in front of Congress for nearly seven hours to give testimony on a wide variety of issues. Participating in the hearings were the following CEOs:
- Goldman Sachs CEO David Solomon
- Citigroup CEO Michael Corbat
- JPMorgan CEO Jamie Dimon
- Morgan Stanley CEO James Gorman
- Bank of America CEO Brian Moynihan
- State Street CEO Ronald O’Hanley
- Bank of New York Mellon CEO Charles Scharf
Wells Fargo did not send a representative to the hearings, given the grilling of CEO Tim Sloan in March. A slew of scandals over the past several years had occurred while he was in senior management positions. Sloan departed from the bank at the end of the month.
Long-time shareholder Warren Buffett commented that the next Wells CEO should not come from Wall Street so as to avoid the ire of Congress.
The hearings were called by House Financial Services Committee Chair Maxine Waters, a Democrat, who declared that banks were "overflowing with profits."
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Source: Business Insider – areddy@businessinsider.com (Arjun Reddy)