Monday, September 20, 2021

Goldman Sachs condemns Trump travel ban

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Lloyd Blankfein

Goldman Sachs on Monday joined the growing list of big US companies criticizing President Donald Trump’s executive order suspending entry into the United States by people from seven predominantly Muslim countries.

Lloyd Blankfein chief executive of Goldman Sachs, which has provided several senior Trump administration officials, sent a voice mail to employees Sunday night outlining his concerns, according to the text of the call obtained by AFP.

“This is not a policy we support, and I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily,” he said.

Trump’s executive order issued late Friday, which also suspended the arrival of refugees and legal US residents, prompted mass demonstrations at several major US airports over the weekend. It has also drawn criticsm from many large companies, including Apple, Facebook, and Nike.

Blankfein said he was working to minimize potential disruption to the firm’s staff and “focused on supporting our colleagues and their families who may be affected.”

Blankfein alluded to Goldman’s published business principles that, “Being diverse is not optional; it is what we must be.”

Sometimes nicknamed “Government Sachs,” Trump has continued the pattern of appointing top current or former Goldman executives to top administration jobs, despite lambasting practice and the firm specifically in his campaign.

Key Trump administration staffers who worked at Goldman include economic advisor Gary Cohn, top political advisor Steve Bannon and Treasury Secretary designee Steven Mnuchin.

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