Tag: apologies

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Finance Practices

Goldman’s Less-than-helpful Apology

In a speech Tuesday night, Goldman Sachs CEO Lloyd Blankfein reportedly apologized for his company’s role in the financial markets crisis, saying, “We participated in things that were clearly wrong and have reason to regret.”

Apologies are always tricky business for people or organizations under siege in the media. Sometimes they can be helpful. When an individual or company is clearly at fault for something, a quick apology, full explanation of what went wrong and why, and commitment to correcting the error can stanch public disapproval. Read