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News Link • Entertainment: Television (TV)

Eliot Spitzer Rips Into John Mack For Saying Banks Are In The Business To Be Profitable

•, Julia La Roche
From New York Mag:

Mack doesn’t buy that argument, or the other one ignited by a former Goldman vice-president who last month resigned in a Times op-ed, citing disillusionment with an industry that has become overly focused on profit. “I can’t believe the Times even printed that,” Mack snorts. “Last time I checked, we were in business to be profitable. The guy’s been working at the firm for twelve years. I mean, it took you twelve years to figure out what you figured out?”

"You know what John, there's a difference between making money the right way and cheating your customers. There's a difference between leveraging yourself to the hill and then getting bailed out by taxpayers. And by the way, have you returned that $40 million bonus? I don't think so, but you should," Spitzer said.

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