Becoming a 'Made Man' at Goldman Sachs

Think of making partner at Goldman like becoming a Made Man in a Scorsese film: "It's the highest honor they can give you. It means you belong to a family and a crew."

Source: Warner Bros. Pictures

So when the boss of bosses —the capo di tutti capi —comes down to congratulate you, it's Kind of a Big Deal.

Such was the case yesterday when Lloyd Blankfein went down to the trading floor to congratulate the new Goldman partners. According to Katya Wachtel at Business Insider : "Traders and associates saw their boss wandering around the floor— in a shirt and tie, no jacket —and, as in times past, were pretty excited to see him."

And, as Wachtel further points out:

"We think it was a no-brainer for the head Goldmanite to drop in on his floor staff to salute new partners—he did, after all, rise to the top of the firm through the trading practice, not as an i-banker (commodities were his game) so it probably reinvigorates him to roam around the trading hub every once in a while."

Ah, to be back in the old 'hood—hanging with the old crew, and rolling in all the old-school ways. Priceless.

(Also, that Blankfein is a native of the Bronx somehow makes the metaphor more seductive—though one does suspect that the path to Harvard College and Harvard Law is seldom paved with the colorful past of a misspent youth.)

To return once again to the Goodfellas script, one occasionally does wonder how far the comparison— between making partner at Goldman and becoming a Made Man in Brooklyn—might plausibly be said to extend:"It means that nobody can f**k around with you. It also means you can f**k around with anybody, as long as they aren't also a member. It's like a license to steal."


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