DealBook 2016: The Future of Banking

Lloyd Blankfein, Chairman and C.E.O., Goldman Sachs Group, Inc.

[@rwnorris24]

What did he say at the beginning? "I deducted it, but it wasn't worth it." lol there's that Tax Lawyer background coming to the service. You rock lloyd.

[@Renould2010]

Certainly., Admire Former CEO, Lloyd, respect his mindset, I would love to meet him., and pick his mind, 👏🏾👏🏾👏🏾👑💯👍, 🔥🔥🔥Great interview.

[@josepharte]

Lloyd is doing God's work! God bless Goldman Sachs!!!

[@drh2098]

Shalom!!!

[@oxy204]

Whoever's got that job I'll get along with him

[@hueknew]

Nothing hotter than an older suited gent in tasseled loafers!

[@user-hk8wz3pp3l]

Whats up with shoes fashion on wall street :D You'd think they could afford decent shoes

[@backup9911]

Blankfien’s watch is also $70 - his goal isn’t to look rich lol

[@GbawlZ]

The guy on the left's shoes are too loud for how nerdy he is.

[@stevenalibaster1490]

This guy is a creep.

[@zarinaromanets7290]

What happened?

[@Abraham-uk4xy]

Another opinion- he is one of the smartest bankers alive. If he worked his life in RISK he should be very sharp and fast moving to avoid losses.

[@49fiori]

3,500 - 35,000 USD loans by Marcus. Let's say average loan will be 10,000 USD and 2 million people will take out the loan, that is 20 billion in consumer loans. 10%-20% will default, let' say 15% and they will have to sell those loans to debt buyers at 90% discount. So they will lose 2,7 billion annually and they will spend a billion a year on admin and marketing. Total costs are around 3,7-4 billion. OK Profit? Interests have to be above 20% for them to see some profits. I don't think they will be able to see profits in billions, few hundred millions yes. Consumer loans are not interesting if done by Goldman. Sorry.

[@MrSupernova111]

People don't default on day one after they sign the loan. Most people will pay into their mortgages for years which is mostly interest before they default. You also forget the fees that are involved in mortgages and in late fees. Lastly, I doubt 10%-20% of borrowers default. Most banks that I have researched have loan loss provisions of less than 1%. Please show me which banks have up to 20% default rates.