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Update on the Goldman Sachs Board of Directors

From Bloomberg Businessweek:

… The American Federation of State, County and Municipal Employees, the largest U.S. union for public employees and health-care workers, [has] advised its members to withhold their votes to re-elect Blankfein and President Gary Cohn, 49, to the board.

Two other Goldman Sachs board members have also been in the spotlight. Rajat Gupta, the former McKinsey & Co. senior partner who isn’t running for re-election, is suspected by U.S. investigators of tipping off Galleon Group LLC founder Raj Rajaratnam ahead of Buffett’s investment in the company, a person with direct knowledge of the inquiry said last month…

Stephen Friedman, a former senior partner of Goldman Sachs who has served on the board since 2005, resigned as chairman of the Federal Reserve Bank of New York last year to avoid the appearance of a conflict of interest because Goldman Sachs is regulated by the Fed. The House Oversight and Government Reform Committee said it plans hearings about why Friedman was allowed to buy Goldman Sachs stock even when he was playing a role in regulating it…

Blankfein’s flippant remark to a British journalist last year that he was doing “God’s work” may backfire at this year’s meeting as three of the seven shareholder proposals came from religious organizations such as the Maryknoll Sisters of St. Dominic, a Catholic missionary order based in Maryknoll, New York. Goldman Sachs’s board has opposed all of the proposals…

Our interest here at University Diaries is in the two Goldman Sachs directors with university positions: Ruth Simmons of Brown, and Bill George of Harvard. But it never hurts to get the bigger picture.

Margaret Soltan, May 3, 2010 8:34AM
Posted in: the university

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One Response to “Update on the Goldman Sachs Board of Directors”

  1. theprofessor Says:

    Here I was thinking that Blankfein is a scumbag, and then AFSCME comes out against him, followed by the MerryMarxist Sisters. I may need to rethink this.

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