Blankfein Says Europe’s Leaders Will Move to Calm Debt Crisis

Discussion in 'Wall St. News' started by ASusilovic, May 7, 2010.

  1. May 7 (Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said he’s confident European leaders will find a way out of the Greek debt crisis, and they need to bolster flagging investor confidence.

    “The market needs to be calmed down,” Blankfein said in a Bloomberg Television interview today after the annual shareholder meeting in lower Manhattan. He compared the loss of confidence among investors to events in 2008, when credit markets froze. “We’re dealing with sentiment,” he said.

    Blankfein said he’s “reasonably confident” that sovereign nations will get together to find a solution.

    Hum, what does he know we do not ?:confused:
  2. zdreg


    he is saying that greece is small potatoes while goldman is reading itself for the next crisis spain etc.
  3. Daal


    Its the market that needs to calm down, he is already pretty calm, he owns CDS in every european nation and if that $15T economy blows up that will have "miminal if any impact on our risk exposures"
  4. --------------------------------------------------------------------------------------

    Daal, look at this. Is this article saying the investment banks try go short the bond, then collect on the swap they buy on this bond? For example now the (iTraxx Sov X Western European index) show the swap insurance on the Greek debt is very expensive. Can you explain?
  5. schizo


    That Bloomberg link doesn't show anything.

    What's the best source for keeping up with all the CDS out there?
  6. Pretty much everything. He and Banana Ben are buddies.
  7. schizo


    Thanks you sir.

    Just one newbie question. I thought CDS trades in the murky water of some dark pools. So how accurate are these "free" (not to mention "open") quotes?
  8. Dark pools? There are no dark pools for CDS...

    CDS's are traded OTC, but pricing is transparent (dealer and 3rd party screens galore) and liquidity is abundant. Markit is the main independent provider of pricing, valuation etc.
    #10     May 8, 2010