2020

Surprise: Former Goldman Sachs CEO Lloyd Blankfein Thinks Bernie Sanders Is Basically the Antichrist

Lloyd Blankfein warns Sanders will “ruin” the economy with the help of Russia.
This image may contain Lloyd Blankfein Human Person Coat Clothing Overcoat Apparel Suit Tie and Accessories
By Michael Nagle/Bloomberg/Getty Images.

When we last checked in with Lloyd Blankfein, and his feelings re: the Democratic primary, the former CEO of Goldman Sachs was airing his grievances with Elizabeth Warren, who had recently featured him, alongside some of his fellow billionaires, in an ad calling for a wealth tax. “Surprised to be featured in Sen. Warren’s campaign ad, given the many severe critics she has out there,” Blankfein wrote on Twitter. “Not my candidate, but we align on many issues. Vilification of people as a member of a group may be good for her campaign, not the country. Maybe tribalism is just in her DNA.” Later, when asked if the tweet had indeed been meant as a dig at Warren’s previous claims of Native American heritage, Blankfein told CNBC with a smirk, “It’s like looking at a piece of impressionist art. You ask, ‘What was the artist thinking?’ It’s really for you to take away.” Making it clear that he regretted nothing and, if given the chance, would take a shot at Warren again, he added: “the message stands.”

Three months later, though, Blankfein is less concerned about beefing with Warren and more worried about the prospect of Bernie Sanders winning the nomination, a prospect that, he decided last night, would result in the Russians throwing their support to the senator from Vermont and the complete and total destruction of the U.S. economy:

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Sanders has not responded to Blankfein’s claim, though, given their prior feuds, it might be just a matter of time. In 2016, Sanders added Blankfein to his “anti-endorsements list,” which includes the many Wall Street figures who’ve warned against a Sanders presidency—an obvious source of pride for the Bern. That same year, Sanders commemorated Blankfein’s newly minted billionaire status by telling Bloomberg that the then Goldman CEO and his ilk “make huge sums of money, help destroy our economy, they come to Congress and you know what they say? They say, ‘You’ve got to cut Social Security and you’ve got to cut Medicare and you’ve got to cut Medicaid.’” To which Blankfein shot back, “To personalize it, it has the potential to be a dangerous moment, not just for Wall Street, not just for the people who are particularly targeted but for anybody who is a little bit out of line.” Last summer, Blankfein tweeted: “Don’t know why Sen. Sanders picks on a retiree like me. I think he’s always looked down on me because he grew up in a fancier neighborhood in Brooklyn.” (Blankfein famously grew up in an East New York housing project.)

As for his most recent comments, it’s obviously in no way surprising that Blankfein—a longtime registered Democrat who has referred to himself as a “Rockefeller Republican”—would be unenthused about Sanders in the White House. Speaking to CNBC last year, Blankfein was more than a little irked about a question re: CEO pay and the enormous disparity between how much chief executives and their rank and file employees make. (In 2007, Blankfein’s total compensation came in at roughly $53.97 million; in 2017, he reportedly took home a trifling $24 million.) Asked by anchor Scott Wapner if corporate leaders make too much money—which Sanders, for one, obviously believes they do—Blankfein snapped, “Do you think television reporters make too much money? I do.” He continued: “Someone must have decided that you in this seat draws more viewers than if your cameraman switched places. And therefore you command a higher wage for the job you do, even though when I chatted with the fellow back there…I liked him a hell of a lot.” Wapner then noted that the spread between what the cameraman makes and what he makes is probably a lot smaller than that of corporate CEOs and their average employees, which Blankfein was having none of. “If you film a movie and get the No. 1 box office star…and you think, ‘What is that movie worth with the No. 1 box office star in it versus the No. 40 box office star?’ If someone thinks they can make an extra $50 million by having the No. 1 guy in it, what’s that guy worth as a differential over the other guy?”

As for Wall Street in general, while they’ve long viewed Sanders as more or less than Antichrist, of late, many have supposedly gotten to a Zen place about his potential nomination, because they think there’s no way he could beat Trump. “There’s no Bernie fear at all, because I think the general view is that he is just way too far left of a candidate to beat Trump and a more moderate candidate would be much more competitive,” Steve Massocca of Wedbush Equity Management told Politico. “If Bernie becomes the candidate and you assume Wall Street wants Trump to win again—and I think they do—then this is nothing but good news.”

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