THE head of the world’s most powerful bank yesterday claimed he was doing “God’s work”.
Goldman Sachs boss Lloyd Blankfein said “everybody should be happy” about a return to big profits and bumper bonuses at banks because it meant the global economy was recovering.
Just months after taxpayers bailed out banks, Goldman Sachs could have £12billion to lavish on wages and bonuses this year.
Mr Blankfein said: “We help companies to grow by helping them raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more wealth. We have a social purpose.”
His words will enrage critics, who blame reckless bankers for causing the worst recession since the Great Depression.
They will also anger religious leaders, who have long argued that bankers’ fat pay packets and bonuses are immoral.
But Mr Blankfein said that limiting bankers’ pay would harm the financial system.
“I don’t want to put a cap on their ambition. The financial system may have led us into crisis but it will lead us out.”
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