Would-be Coup

Could Paulson Replace Blankfein?

Informally suggested by Goldman insiders.

Can the embattled Goldman Chief Lloyd Blankfein survive SEC charges, a Senate investigation, a public relations nightmare, and a rumored coup from Goldman executives and alumni? The Wall Street Journal reports there are informal “conversations being held among some partners, managing directors and other current and former executives,” although Goldman has publicly stood behind Blankfein, even giving him a standing ovation at a board meeting. One potential successor? Henry Paulson, the former Goldman chief who served as Treasury secretary under President George W. Bush, although that choice is fraught with controversy as well. Executives said if Goldman shares continue to fall, shareholder support for Blankfein could tumble with them. Goldman shareholders will hold their annual meeting Friday, and one of the proposals on the table is to split Blankfein’s position into chairman and CEO.