92Y Video: Captains of Industry: Jeffrey Immelt with Norm Pearlstine
On May 6, 2010, for our Captains of Industry lecture series, General Electric Chief Executive Jeffrey Immelt was interviewed by Norm Pearlstine, chairman of Bloomberg Businessweek.
In the video above, Pearlstine asks Immelt about executive compensation, and for his views on Wall St. or Congress after watching the recent Congressional hearings for Goldman Sachs. “Financial services is a very important industry in this country,” Immelt replied, continuing:
“I just think this point about damning Wall Street isn’t good for the American economy. Number one. Number two, I wish they’d take care of their own compensation. It just shouldn’t be this kind of problem. I trust them to manage their own reputation. Because we need them. We need Wall Street…
People need to tone down the rhetoric around financial services, and stop the populism.”