FCIC Hearings: Is Too Big To Fail Still Too Big To Fail? Goldman Sachs CEO Says Yes

Another interesting tidbit from today’s hearings by the Financial Crisis Inquiry Commission: When asked for his view as to whether the federal government would allow a big bank to fail today, Goldman Sachs head Lloyd Blankfein said no. “I think . . ., in the context in this environment, at some level, the government would intervene." He added that, “There would be something done” because of the “fragility” of the “system today, I believe. A year and a half ago, maybe not, a year and a half from now, maybe not."