Goldman Sachs to the aid of small businesses?

Not too long ago, we suggested that Goldman Sachs ought to buy CIT and jump headlong into the business of small business lending. I really don't see Goldman Sachs yearning to get into inventory finance and the like, but it would really help its PR aims.

Well, the gilded firm has been thinking along similar lines. Bloomberg reports that the bank is planning a charitable effort, to be announced soon, to spur growth at small businesses. The initiative aims to provide assistance, from counseling to financing, to 10,000 U.S. businesses. Warren Buffett will be a partner in the effort.

Many will cynically see this as a mere PR move. But at least it puts some substance to the notion that Goldman Sachs is doing God's Work toward rebuilding the economy. The bragging has rung a bit hollow, to be fair. The real issue is whether Goldman Sachs is serious about this. It can prove its intentions by running a solidly managed program that lasts beyond the bank's need for good PR. It's all about the follow up.

For more:
- here's the article

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