Lloyd Blankfein
Lloyd Blankfein
Lloyd Craig Blankfeinis an American business executive. He is the CEO and Chairman of Goldman Sachs. He assumed this position upon the May 2006 nomination of former CEO Henry Paulson to United States Secretary of the Treasury...
NationalityAmerican
ProfessionBusiness Executive
Date of Birth20 September 1954
CityNew York City, NY
CountryUnited States of America
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You can look at history of these things, and Social Security wasn't devised to be a system that supported you for a 30-year retirement after a 25-year career... So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised.
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In 2007, in the early 2007, everybody saw the housing market was falling, and at any given moment a lot of people thought it was going to fall more, and a lot of people thought it was going to rebound. You just didn't know.
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I remember, my first job when I got my working papers at 13 was as a vendor at Yankee Stadium - the old Yankee Stadium, with very steep stairs in the upper decks. It was all commission-based. And I think a soft drink was 25 cents, and I think you got a 10 percent or 11 percent commission.
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If you do something really well, the entire world beats a path to your door. The number three, number five, number 400 player gets nothing. It's almost a winner take all.
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My - I grew up in - I grew up in public housing. My dad, for most of my life, worked for the post office, which was a terrific job to get because you couldn't lose your job.
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Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It's a virtuous cycle.
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At the end of the day, it's not a normal condition to have interest rates at zero.
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I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way.
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Mysterious can be cool, if you're in Hollywood and everyone's happy. But it can be really bad if people perceive that the financial interests are adversarial, that there's money versus people. A lot of Goldman Sachs people went into government, so at a time when there's a distrust of institutions, some of that reflects on us.