COMMENT
Breadcrumb trail navigation:
By William Cohan
Published: November 23 2009 20:51 | Last updated: November 23 2009 20:51
Let us now praise Goldman Sachs, for the sole reason that it and it alone among the major, capital-intensive Wall Street institutions "“ both recently deceased and still living "“ actually understands something about risk and risk-taking.
By his own admission, Lloyd Blankfein, Goldman's chief executive, ranks risk management as his number one daily priority, even ahead of doing God's work. "I'm a risk manager and I've been that for a long time, a lot longer than I've been CEO," he said recently at a breakfast in New York sponsored by Fortune magazine. "I live 98 per cent of my time in the world of 2 per cent probabilities. I live always in the worst case."
You have viewed your allowance of free articles. If you wish to view more, click the button below.
Read Full Article »
