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Posts Tagged ‘public does not understand Wall Street’

Goldman’s van Praag: “People Don’t Understand”

Posted by Larry Doyle on February 23rd, 2012 12:58 PM |

“You can’t regulate and legislate for greed and stupidity.”

In the course of a riveting 30+ minute interview, soon to depart public relations chief Lucas van Praag of Goldman Sachs made the above point and many more as he spoke openly and extemporaneously on a number of topics.

The fascinating dynamic at work in this interview with the Dutch television program Tegenlicht is the fact that van Praag does not seem to fully appreciate that he is being taped. Much of what van Praag addresses would seem to toe the Goldman party line, but he does speak in such a matter of fact style that we learn a lot about the mentality and culture at work inside the offices of Goldman Sachs.

What are some of the general themes of van Praag’s commentary?¬† (more…)

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