So Blankfein gazes with leaden eyes on the peoples of Europe as they struggle and Goldman leads in their dance to financial death. Goldman was there at the beginning and you can be sure it will be there at the end.
|Danse Macabre 1498 by Michael Wolgemut|
Goldman Sachs CEO Lloyd Blankfein: Company Engaged in Contingency Planning for Defaults in EuropeRead the whole article here
By D. M. Levine - HuffPost Business
Goldman Sachs is preparing for possible sovereign defaults in Europe, the company's CEO said Friday.
"It's in the nature of contingency planning and we plan for a number of contingencies" including defaults, Lloyd Blankfein said Friday after testifying in federal court at the insider trading trial of former Goldman director Rajat K. Gupta. "If it does happen, it would be irresponsible for us not to engage in contingency planning."
Blankfein did not go into detail about the kind of planning at Goldman Sachs, but said that the firm does not want to be caught by surprise if, for example, a country like Spain defaults on its sovereign-debt obligations. "If there's a shock and awe [situation], there may be awe but there won't be shock."