Friday, July 17, 2009

Goldman Sachs PR Department to Earn Their Millions

Who knew the whole political range would pick on Goldman Sachs within a day's time? Consider the media personalities with GS in their sights, Paul Krugman, Jon Stewart and Glenn Beck. Add The Telegraph and Rolling Stone to the list. Even Forbes took a shot. The hardest punch came from across the pond.

Did Goldman executives issue a crisis call for media savvy consultants? Did they barricade top management in the bunker housing their proprietary computer trading software? Or did they enter the firm's vault, wading hip deep in gold coins, diamonds and bearer bonds (their 2009 bonus prizes)?

How will they handle their PR problem? Likely, Goldman will slough it off on their lackeys, the United States Congress and the Executive Department. It pays to fund appropriately connected talent, especially talent capable of making inconvenient things (like record profits in the middle of a deep recession) go away. Does it all seem a bit cartoonish?