Lloyd Blankfein of Goldman Sachs Spoke Truth to Power Unexpectedly


Theme:– Operation J.U.M.P. For Jobs, Justice & Unsung Dreams

It seems the ‘floodgates of realism’ broke wide open recently. First it was the Pope who called attention to the widening economic gap worldwide. Then President Obama delivered his income inequality speech quoting the Pope. But it was Lloyd Blankfein of Goldman Sachs who spoke truth to power unexpectedly.

Blankfein was participating in an industry forum where he shared how the economic recession changed him as a person. He went on to describe the American economy as one that creates wealth better than it spreads the wealth. No one expected someone with his power to identify the problem so simply.

It’s probably what the folks from Occupy Wall Street were trying to say. Industry reports indicate that much of the economic gains since the recession have gone to the ‘one percent.’ These are basically the rich and super-rich. It’s like a CEO getting a 100% salary increase and workers get a cost of living bump.

So Operation J.U.M.P. and others ask the question, Is this a social or moral disconnect? Inquiring minds want to know. How does an executive explain a 13 million dollar salary while a large percentage of the workers are below the poverty line? Supply versus demand can’t be the only market-based reason.

It’s not a surprise to hear the Pope address this subject. He’s seen as a next generation leader. As Fast-Food workers organize for improved income standing, they’re counting on shifting the game as well. Whether he knows or not, it might take a changed person like Blankfein to spread economic justice for all.

Footnote: Operation J.U.M.P. might not be a silver bullet for economic justice but it sure recognizes that not everybody was born with a silver spoon in their mouth.