Goldman's Blankfein says banks have "social purpose"

Goldman Sachs is normally a quiet, yet extremely powerful, entity in the financial as well as political world. Recently, however, Goldman and its top leader, Lloyd Blankfein, have been speaking out more, defending their territory as well as their role in the economy. "We're very important," Blankfein said. "We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It's a virtuous cycle."

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