November 19, 2019 / 5:59 PM / 20 days ago

Former Goldman Sachs CEO pushes back on Warren attacks -CNBC

NEW YORK, Nov 19 (Reuters) - Former Goldman Sachs Chief Executive Lloyd Blankfein pushed back against attacks from Democratic presidential hopeful Elizabeth Warren on Tuesday saying that, while people in the financial system often get blamed for inequality, it was not good to attack individuals.

“I’m used to Wall Street getting pelted,” Blankfein said in a wide-ranging interview on CNBC. “But going after specific individuals…is that really good? I’m not so sure.”

Warren, a Democratic U.S. senator from Massachusetts, aired a television ad last week about her proposed 2% tax on wealth beyond $50 million. In it, Blankfein is shown with a caption saying he “earned $70 million during the financial crisis.”

Blankfein said he understands why a wealth tax is receiving some public support but called the policy “completely unworkable.”

Asked if he thinks CEOs make too much money, another thorny issue Warren has discussed, Blankfein said that he did not think “anybody should apologize” for how their pay is determined. (Reporting By Elizabeth Dilts Marshall Editing by Chizu Nomiyama)

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