In an exchange between Goldman Sachs CEO Lloyd Blankfein and Sen. Edward Kaufman (D-Del.), the senator theorized that public outrage over recent actions by the firm was more about executive bonuses than misleading investors on securities that eventually soured, but still made money for the bank.
"It may be totally a chance, it may be something beyond our control, but the idea that Wall Street came out of this just fine, thank you, is just something that grates on people," Kaufman said. "And I think they think that you just didn't come out fine because it was luck. They think that you guys really gamed this thing real, real well."
Blankfein told lawmakers that after receiving $10 billion in TARP funds, the bank rebounded by earning approximately $13 billion for 2009 and $3.46 billion in the first quarter of 2010.