The accumulation of unsold private assets on investors’ balance sheets is a warning that some may be overvalued — and a spark could trigger a widespread markdown, according to
“At some point there needs to be a forcing function or a reckoning that causes you to come to grips with what your balance sheet really is worth,” Blankfein said in a Bloomberg Television interview with
WATCH: Lloyd Blankfein, the former chairman and CEO of Goldman Sachs, remains wary of systemic “kindling” despite a banking sector that is currently better capitalized than in previous crises. Source: Bloomberg
The former Wall Street chief, who spent much of his career as a trader before ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.