Open Book with Anthony Scaramucci Fmr Goldman Sachs CEO: What Surviving The 2008 Financial Crisis Taught Me — Lloyd Blankfein
Apr 23, 2026
Lloyd Blankfein, former chairman and CEO of Goldman Sachs and author of Streetwise, reflects on rising from Brooklyn projects to Wall Street leadership. He discusses upbringing shaping risk temperament and frugality. He talks about risk management, Goldman’s partnership culture, public scrutiny in 2008, and confronting mortality after lymphoma.
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Divide Forecasting From Risk Management
- Split trading work into forecasting and risk management modes and force contingency planning during risk mode.
- Ask teams not what they think will happen but what could happen and what they will do to mitigate each scenario.
Goldman Partnership Culture Explained
- Blankfein describes Goldman Sachs culture as an ownership partnership where people expect information and pushback, even after it became a public company.
- He credits that culture for stability: consensus-building, shared compensation, and alumni ties kept the firm grounded.
Add Process After A Near Miss
- After crises (e.g., 1994), introduce regular risk committees and extra surveillance to avoid runaway, unchecked risk-taking.
- Balance entrepreneurship with oversight so risk takers get reined in before mistakes compound.
