Lloyd Blankfein May Have Just Had His O.J. "If I Had Done It" Moment!

From Bloomberg News Blankfein Says Lehman Rescue May Have Led to Bigger Failure.

Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc., said a government rescue of Lehman Brothers Holdings Inc. last year might have led to another, even bigger company being allowed to fail instead.

A bailout of Lehman Brothers might have provoked a public backlash, causing the government “to let the next institution fail” instead, Blankfein said today in response to a question- and- answer session after a speech in Frankfurt. “It might have been a much bigger one with much more dire consequences.”

Lehman Brothers’ Sept. 15 bankruptcy, the biggest in U.S. history, led to panic in credit markets that some Treasury Department officials have since said they didn’t anticipate. A day after Lehman’s collapse the Fed stepped in to rescue insurance company American International Group Inc., enabling companies including Goldman Sachs to receive money they were owed by AIG.

The consequences of the Lehman bankruptcy weren’t easy to see in advance, Blankfein said.

“The real reason why we know that was a bad decision -- not a bad decision, a bad consequence -- was because it happened,” Blankfein, 54, said at the conference in Germany. “Had it not happened, the criticism would have been, ‘Look what happened, look at the moral hazard here.’”

You think Lloyd said something like this to his old boss, Hank Paulson the day Hank decided to let Lehman go bye bye?  This is like O.J's "If I Had Done It" no?  

"Don't waste your last bullet on Lehman Hank because......I need it!"

Comments

[nah]

OH' SHNAP

http://www.youtube.com/watch?v=Xo6mlxmla2w