Goldman Sachs CEO: Gun policy must change now
Goldman Sachs CEO David Solomon said gun laws in the United States need to change. And that change, he said, should come from the top.
Solomon told CNN Business' Christine Romans in an exclusive interview that government officials need to "try to improve the framework we all operate in," because it's an issue that private businesses can't fix. He added that although boycotts "create discussion," it's ultimately up to legislators to make substantial policy changes.
"This needs to be legislated by law and it's time for our political leaders to come together on something that is so tragic for our country and make some progress," Solomon said. CNN Business spoke with him while he was at the Iowa State Fair for the Goldman Sachs 10,000 Small Businesses graduation.
His public call for action comes after two mass shootings this month took place within 24 hours of each other. A gunman killed 22 people and wounded 24 others in a shooting at a Walmart in El Paso, Texas last Saturday. Hours later, a man killed nine people in a popular nightlife district in Dayton, Ohio.
Previous mass shootings forced companies to change their policies.
Following the massacre at a school in Parkland, Florida, BlackRock started to offer clients investment options in funds that exclude firearm manufacturers and retailers. Bank of America stopped lending to manufacturers of "military-style firearms" used by civilians, and Citigroup said it will no longer do business with companies that sell guns to people under the age of 21.
Soloman said that Goldman Sachs doesn't work with companies that make assault weapons, bump stocks and high-capacity magazines.
"We do business with retailers who sell guns, but we are thinking about what we should do and how we can contribute to this debate," he said.