Goldman Sachs CEO Lloyd Blankfein: Regulation is like background noise #GS #DAVOS
Lloyd Blankfein, CEO and Chairman of Goldman Sachs, spoke with Bloomberg TV’s Erik Schatzker and Stephanie Ruhle today at the World Economic Forum’s annual meeting in Davos, Switzerland. Blankfein discussed the performance of Goldman Sachs, the impact of regulation on the financial industry and the outlook for the industry.
On regulation, Blankfein said: “If you ask me how much time do I spend thinking about regulation, and rules and that kind of compliance, all the time. But it doesn’t push out other things. It’s like background noise. It’s like music.”
Blankfein said the world is “still highly affected by” the financial crisis. “China is an economy that is almost the size of the U.S. economy, soon will be bigger. And that’s going through a slump. Europe is, which is a bigger population than the United States is coming out of a slump and still grinding.”
Source: BLOOMBERG TELEVISION