Goldman Sachs's Blankfein: " Would You Want This Man As Your Plumber?"

Thank you to The Daily Bail for a series of videos regarding the roles played by both honorable and nefarious actors leading to the 2008 financial crisis. Amongst the former category is Brooksley Born, a woman of great integrity. She warned in the 1990s about the risks of unregulated OTC derivatives.

However, her ideas did not prevail; but even when she had the opportunity to question the nefarious actors like Greenspan, Rubin and Blankfein (of Goldman Sachs), who all made her distinguished career so difficult, she treated them with honesty and respect and certainly without rancor.

She was right; they all were wrong!

It is interesting to hear that Blankfein believes "We didn't specifically have a derivatives crisis." In fact he says that OTC derivatives functioned well. He puts part of the success for that on Luck. He still does not want rules and regulations but thinks just keeping the pipes in place and letting the plumbing settle and clear will be enough! Charming, for sure.

Here is the video of her interview with Lloyd Blankfein during the FCIC investigations:



You can see this video and others plus the text here