Goldman Sachs CEO: 'Of course we lobby'

Yahoo Finance

Goldman Sachs CEO Lloyd Blankfein says it’s good for people to petition their government, and that goes for businesses as well.

“I had to learn this at Goldman Sachs,” Blankfein said at Goldman Sachs’ (GS10,000 Small Businesses Summit in Washington, D.C. “I come and all of a sudden we’re a force in the world, we’re a factor in the world — sometimes people like it, sometimes people don’t. But nobody thinks we’re not influential. And so we engage our government.

“Some people are crying, ‘Oh my goodness you lobby.’ Of course, we lobby. We have our voice. We say, ‘Look, we don’t vote on the legislation, but we have an obligation to tell them what we think the effect of something would be, or what we’d like them to do.’ And I think you should too.”

Goldman Sachs CEO Lloyd Blankfein
Goldman Sachs CEO Lloyd Blankfein

10,000 Small Businesses is a program that aims to help entrepreneurs grow their businesses and create jobs by providing access to education, capital, and technical assistance. More than 2,200 small business owners attended the summit.

As part of the program, the small business leaders went to Capitol Hill to meet with elected officials.

“For many of you, this will be the first time you’re walking through the halls of Congress. I hope you get used to it. I think this is this is what the country is about is about,” Blankfein said, adding it’s part of the educational process.

Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.

What to Read Next