Goldman’s Blankfein: The Difference Between a ‘Regular Crisis’ and an ‘Extreme Crisis’
filed in Daily Buzz News on Sep.30, 2010
Craig Pirrong submits:
In this post-crisis (or is it continuing crisis?) world, Lloyd Blankfein and Goldman Sachs (GS) (a/k/a “The Giant Squid”) may not be considered the most savory company to keep, but that’s where I find myself today. That’s because Goldman CEO Blankfein is also raising the alarm about the systemic risks posed by a vast expansion of derivatives clearing:
Lloyd Blankfein, Goldman Sachs Group Inc.’s chairman and chief executive officer, said using clearinghouses increase risks in an “extreme” crisis.