| Opinion/The Review

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Wrong on Blankfein

Letters home ...

Traveling abroad for personal, educational or professional reasons?

Why not share your impressions — and those of residents of foreign countries about the United States — with Trib readers in 150 words?

The world's a big place. Bring it home with Letters Home.

Contact Colin McNickle (412-320-7836 or

Daily Photo Galleries

Tuesday, Dec. 11, 2012, 8:53 p.m.

Wrong on Blankfein

I'm always amazed at Joseph Sabino Mistick when he writes about subjects that he has little knowledge of. His column “Honest work” (Dec. 2 and was one of the worst offenders.

Besides his misstatements about Lloyd Blankfein's expertise on employment, Mistick also goes on to denigrate his work ethic. Blankfein started at Goldman Sachs 30 years ago as a commodities trader. To reach the CEO position, Blankfein would have had to work 60 to 80 hours a week for years in an ultra-stressful environment, taking very little vacation or time off. I know — I did that job myself for 20 years at three major investment banks.

I doubt very much that many of those construction or assembly-line workers that Mistick praises in his column could have borne up under the pressure or the burnout rate that Blankfein had to deal with for most of his career.

Also, Goldman did not get a TARP bailout to keep it “afloat.” If Mistick would have checked, he would have seen that Goldman was always very profitable. The Obama administration asked Goldman to take bailout money in order to not single out those firms that had not been profitable and needed the bailout. Please do some fact checking!

Jay W. Sukits

Franklin Park

The writer is a University of Pittsburgh professor of finance.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Letters

  1. Insensitive photo
  2. McKeesport mayor’s mom supports son’s actions
  3. With us or against us?
  4. Change ‘full-time’ definition
  5. Fellow-traveler claptrap
  6. Resurrection not proven
  7. ‘Annie’ terrific
  8. Pension-letter ire II