Lloyd Blankfein of Goldman Sachs has had a number of court subpoenas lately dealing with blockbuster mergers, and yesterday he was called to testify in the case against Raj Rajaratnam for insider trading. The seat where he was to give testimony from became a little uncomfortable for him when the prestige of Goldman Sachs came into question alongside the unpleasant actions of this insider trading.
Even though Goldman Sachs wasn’t accused of doing anything wrong as a company in the case, Mr. Blankfein did say that one person in his company, Rajat Gupta did violate the company’s policies by giving out privileged information to Mr. Rajaratnam. For some reason, he also had to answer questions about his management style and personal reading habits.
Sources close to Mr. Blankfein say that the fact that Goldman’s image isn’t what it used to be 10 years ago has had an effect on him, but that he’s determined to stay on as the leader until he can fix its reputation and bring it back to its former level when he took over the leadership from Hank Paulson five years ago.
In other news, the $39 billion acquisition of T-Mobile by AT&T marked the first time in around 10 years that Goldman Sachs did not have any part in a telecom deal that was more than $30 billion.












