Goldman's PR Predicament

How do you save a client from them self?

This is a rhetorical question I have been musing over while reading about the latest round of Wall Street scions to get mud and egg on their well-tailored suits. Goldman Sachs executives are not only doing a poor job positioning themselves against Federal investigators, they are appearing to lose in the court of public opinion - at best they will be profiteering scoundrels, at worst felons.

In the face of the worst economic meltdown since WW2, when unemployment is in the double digits and the national foreclosure rate on homes is the highest in history, how would Goldnman's CEO Lloyd Blankfein best garner public support while defending Goldman Sachs positions in hedging against sub-prime mortgages, seeking TARP money from taxpayers only to hand out 16 billion in bonuses months later?

Stating "I am doing God’s work" is not at the top of my crisis-communication list.

The good news, is Lloyd may be the straw that broke the hold outs to Wall Street reform in congress last week, and ironically - that could be grace.