He loves a British accent as much as the next guy but you know what? That may not be enough. He's had it up to his gleaming pate with this regulatory crap and somebody better figure out something and fast otherwise the Golden scrots are gone. Be a good bunch of boys and girls and take this warning seriously, as LB is deadly serious about it.
Lloyd Blankfein, the outspoken chief executive of Goldman Sachs, has issued a thinly veiled threat that the bank will shift operations out of Europe if the regulatory crackdown on the industry becomes too tough. Mr Blankfein told a conference organised by the Eurofi think-tank in Brussels that Europe remains of vital importance to Goldman, with less than half of the bank’s business now generated in the US.
But he warned that the introduction of “mismatched regulation” across different regions as officials seek to ward off another financial crisis would tempt banks to search out the cheapest, least intrusive jurisdiction in which to operate. “Operations can be moved globally and capital can be accessed globally,” he said.