Nathan Vardi is an associate editor at Forbes
It was a grueling Tuesday in Washington for Goldman Sachs Chief Executive Lloyd Blankfein and other Goldman executives, who struggled to explain themselves before a panel of U.S. senators. They were portrayed as Las Vegas pit bosses and bookies who peddled “sh**ty” products that helped bring the U.S. financial system to the brink of collapse.
Blankfein tried to be humble and keep the conversation dignified. “Many Americans are skeptical about the contribution of investment banking to our economy and understandably angry,” said Blankfein. “We are trying to deal with the implications of the crisis for ourselves and for the system.”