Lloyd Blankfein to meet with the President


I think it's fair to assume that Goldman Sachs CEO Lloyd Blankfein is at least pondering his next step.

No one knows, except perhaps the board, his confidantes and his family, whether he plans to make a big move soon. But it would be in keeping with other former CEOs of the august bank to move into public service. This has worked out well for some (Henry Paulson, who got more than he bargained for) and not so well for others (Jon Corzine).

I mention this now as Blankfein prepares to meet with President Obama, who is seeking the support of top CEOs for "his approach to addressing the fiscal cliff…" notes Bloomberg. For the president, this is a campaign-style effort to sell Corporate America on the idea of extending middle class tax cuts while raising rates at the highest income levels.

My guess is that the Blankfein team has extended feelers to the administration about whether there is place for Blankfein at a high level. The administration would be wise to consider the possibilities. There are lots of downsides of course, notably that the "optical" issues would be immense. But if Blankfein can somehow emerge as a force behind the president's plan, that just might seal the deal. He has, of late, taken a conciliatory view on financial regulation that the regulators no doubt appreciate.

For more:
- here's the article

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