Goldman Sachs On Sex Trafficking: Uncomfortable With the Direction, At Least When Asked About It

by
Abby Zimet

Goldman Sachs has scrambled to sell off their 16% stake in a media company that owns Backpage.com, the country's top site for prostitution and sex trafficking of minors, after the N.Y. Times' Nicholas Kristof inconveniently revealed its shares - and seat on the board - in a column. Kristof notes that Goldman and several other financial companies involved may or may not have known what the notorious Backpage did; then again, they could have asked, and when they found out, rather than "rushing for the exits," they could have used their influence to clean up the site's act. But that would require some sense of moral or social responsibility, something evidently not included in Goldman CEO Lloyd Blankfein's definition of "God's work."

“We had no influence over operations.” - Goldman Sachs spokeswoman.

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