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News@lemmy.world · 1 month ago

Goldman Sachs Head During Financial Crisis Says He "Smells" a Similar Crash Coming

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Goldman Sachs Head During Financial Crisis Says He "Smells" a Similar Crash Coming

return2ozma@lemmy.world to

News@lemmy.world · 1 month ago

cross-posted to:
fuck_ai@lemmy.world

To Lloyd Blankfein, who led Goldman Sachs through the 2008 subprime mortgage crisis, it's reasonable to prepare for a "reckoning."

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PillowD@lemmy.world
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1 month ago
He doesn’t have to smell it, he just has to look at reserve ratios. If they are 12 to 1 or 16 to 1, no worries. When they get to 50 to 1 or 100 to 1 a crash anywhere will cause a chain reaction of failing instititutions.

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