Lloyd C. Blankfein
Lloyd C. Blankfein is the Chairman and Chief Executive Officer of Goldman Sachs.
Lehman Brothers was allowed to fail to help Goldman Sachs. The New York-based bank received $10 billion as part of the government's $700 billion Troubled Asset Relief Payment bailout program, which aided hundreds of banks. Goldman repaid the TARP money it received in June. Questions were raised about the government's decision to allow the collapse of Lehman Brothers, a Goldman Sachs competitor, and the decision to prop up American International Group Inc., After the $182.5 billion taxpayer bailout of AIG, Goldman got $12.9 billion from AIG in the form of collateral that Goldman already had in its possession and a cash settlement of ongoing margin disputes. Treasury Secretary Henry Paulson was the former chief executive of Goldman Sachs who was aided at Treasury by a bevy of advisers with ties to the firm.