Has Goldman CEO Lloyd Blankfein Become a Liability?

by Derek Loosvelt | May 13, 2011

According to Rochdale Securities Analyst Dick Bove, due to Goldman's deteriorating reputation in the eyes of regulators and Main Street, it's time that Lloyd steps down for the good of the firm.

lloyd blankfeinYesterday, Bove downgraded "Goldman's shares to a 'sell' from 'neutral' and cut its share-price target to $120 from $163." Afterward, Goldman's share price slid 3.5 percent. On the year, the firm's stock price is down 2 percent, at least partially due to the increased number of investigations into its business practices.

In an interview with the Post, Bove said, "If the Justice Department acts upon recommendations by Congress, there's no way that Blankfein will be able to stay. He will have to leave."

(NYP: Goldman Sacked)

(Related: Rolling Stone Writer Scribes Another Scathing Piece on Goldman "Squid" Sachs)

Filed Under: Finance


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