On this episode of The Forum, hosted by CNBC’s Becky Quick, Lloyd Blankfein, former Chairman and CEO of Goldman Sachs, joins Sonali Basak, Chief Investment Strategist at iCapital, for a wide-ranging conversation on financial markets, systemic risk, and the forces that shape economic cycles. Blankfein reflects on the lessons of the 2008 financial crisis, the rise of private credit, and why periods of stability can often create the conditions for future market disruptions. Drawing on decades of experience at the center of global finance, he shares his perspective on risk, regulation, asset valuations, and the warning signs investors and policymakers should be watching today. New episodes of The Forum with Becky Quick drop monthly. Subscribe for exclusive conversations with global policymakers, business leaders, and thought leaders shaping the world economy. Host: Becky Quick Guests: Lloyd Blankfein (Speaker), Sonali Basak (Moderator) Produced by: AMZG Media To learn more about The Economic Club of New York, visit our website and follow us on LinkedIn, YouTube, X, Instagram, Facebook, and TikTok.

Inside the Next Financial Crisis with Lloyd Blankfein

The Forum with Becky Quick

I'm Becky Quick of CNBC and your host of The Forum. I'll be guiding you through exclusive conversations among some of the world's global leaders, conversations previously held behind club doors, but today we invite you in. The Economic Club of New York serves as the premier forum for nonpartisan discussion dedicated to connecting the world's brightest minds with preeminent public and private sector leaders. A nonprofit, 501C3, the club is a 115-year-old platform for the conversations that help shape the future of our world.

The Economic Club of New York, brightest minds, critical conversations, catalyst for innovation. If you had to do it all over again and change something about not just the culture of Goldman, but the culture of Wall Street, what would it be? Well, you know, I'm a markets guy, so I'm more in the responder net to what happens. I take certain things, you know, I think things fall the way they are for a reason. What would I like? I'd like the birds to, you know, sun to shine every day and the birds to chirp every day.

If I were in charge, I'd make sure that that happened. But I do think that, I think Wall Street does a very good job of responding in the uncertainties that exist at every moment about what is going to happen next. And being good contingency planners and very resilient and great, great responders.

And, of course, gets killed by the reviewers and the pundits who have after-acquired information to look back and say, aha, oh, God, that's not what I would have done. Just like nobody voted for Nixon except he won in a landslide. Everybody remembers. Everybody always remembers being right because they're pundits and pundits don't have P&Ls.

Inside the Next Financial Crisis with Lloyd Blankfein

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Inside the Next Financial Crisis with Lloyd Blankfein

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.