Hank hits out at bit-parts

Perhaps he’d had a bad night’s sleep. Perhaps it was a slip of the tongue. Or perhaps the man who told us last June that we needed to buck up our standards in the wake of the corporate crises in the US simply wanted to tell the truth.

Whatever the reason, Goldman Sachs CEO Hank Paulson found himself saying in public what many have only ever said in private: that most employees at investment banks are purely bit-part players.