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Goldman opposes Trump travel ban

Monday, January 30, 2017 - 01:21

CEO Lloyd Blankfein told employees that Goldman Sachs does not support President Trump's immigration curbs against certain Muslim countries. Fred Katayama reports.

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Wall Street, unlike Silicon Valley, has remained publicly silent about President Trump's immigration curbs against certain Muslim countries. But Goldman Sachs CEO Lloyd Blankfein told employees in a voice mail message that the investment bank opposes the measures. Blankfein said, "This is not a policy we support, and I would note that it has already been challenged in federal court ... There is potential for disruption to the firm." Some business academics say banks don't want to protest publicly because they're counting on President Trump to deregulate their industry and don't want to risk offending him. Goldman has strong ties to the Trump Administration with alumni such as Treasury Secretary Steven Mnuchin and White House adviser Steve Bannon. Separately, Lyft got a PR lift after taking a stance. The co-founder of the ride share company, Logan Green, pledged in a tweet that the company would donate $1 million to the civil rights group, ACLU. The pledge came as the #DeleteUber hashtag trended on social media after its rival, Uber, angered users by continuing to service JFK airport while taxi drivers struck in solidarity with the protesters. Uber later said it'll create a $3 million fund to help drivers with immigration and translation services.

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Goldman opposes Trump travel ban

Monday, January 30, 2017 - 01:21