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"I would be buyer of the market," says Lloyd Blankfein, if Congress tomorrow could come to some...

"I would be buyer of the market," says Lloyd Blankfein, if Congress tomorrow could come to some sort of compromise on the fiscal cliff. Speaking on CNBC, Blankfein (a stud trader back in the day) echoes Jamie Dimon in linking recent market jitters to the looming spending cuts and tax increases.
Comments (8)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
    Well, since Congress will not be doing that tomorrow, I guess that makes you a seller? Buy in February or March '13 when the "compromise" is worked out?


    One certainty for the VIX crowd. The forces of the government, the Fed, the permanent bureaucracy (including those who poll unemployed people), the media, and 80% of the members of Congress on both sides of the aisle want to see the market quietly rising until election day.


    Sell the news?
    11 Oct 2012, 12:47 PM Reply Like
  • Jason Tillberg
    , contributor
    Comments (1237) | Send Message
    Nothing but empty rhetoric. "some sort of compromise?" That means nothing to me.
    11 Oct 2012, 12:51 PM Reply Like
  • Uncle Pie
    , contributor
    Comments (2681) | Send Message
    he "would" be a buyer of the market? Note the use of the subjunctive mood, also known as the "conditional" mood because it implies that some condition exists. Tells you he is NOT a buyer, but he "would" be IF perhaps certain unspecified conditions were met. Buyers, beware of the subjunctive, aka, conditional, mood!
    11 Oct 2012, 01:00 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
    He does not buy stocks anymore..he is way into the Synthetic derivatives and such....and old stock is not good enough for him..he has super computers to play with now...a flash crash gets him excitied
    11 Oct 2012, 01:05 PM Reply Like
  • Mad_Max_A_Million
    , contributor
    Comments (1175) | Send Message
    He means: If only Obama wasn't so hell bent on higher taxes, more government regulation, more debt, and more spending.
    Or, if only Reid would stop fighting the House and floor a bill.
    Or, if only the Demos allowed a budget in the last 4 years.
    They seem to have learned nothing from the election 2 years ago.
    11 Oct 2012, 01:08 PM Reply Like
  • Topcat
    , contributor
    Comments (413) | Send Message
    If there is a compromise, it will be on Dec. 31. A lot depends upon the election...if many Tea Partiers are thrown back out, then Obama might have some leverage and there will be a compromise. If wingnuts insists on no new revenues to bring down the debt (as well as spending cuts), and are willing to have the U.S. credit downgraded once again, then yes, it WILL be a disaster for stocks and for the economy and everyone really. Obama has offered a $4T deficit reduction package over ten years. I'm sure that offer is still on the table. If enough TPers are swept out, Boehner might have the votes (that he didn't have before). I do sense that people are coming around to the idea that Congress should act in a bi-partisan manner, and they now realize the 2010 TP election was really just more of the party of NO.


    P.S. Please research...Obama has LOWERED taxes (with some small exceptions) please list the taxes he has somehow raised (I can only think of the medicare surtax for those over $250k offhand). And in 2014, un-insured (who are not poor and not subsidized) will gradually have to pay the penalty (tax), which helps pay for some of the emergency room visits (WHICH I PAY FOR THRU MY employer provided insurance).
    11 Oct 2012, 02:05 PM Reply Like
  • Mad_Max_A_Million
    , contributor
    Comments (1175) | Send Message
    Topcat: You mean the "hell bent on raising taxes" thing?


    Obama threatened to veto any extension of the Bush tax cuts if the opposition tried to cut some serious spending. Translation: Tax increase for spending cuts.
    Obama at any time could have demanded that the democrats take up a budget, as required by law. He did not. That allowed him to put over 4 Trillion dollars on a credit card. Money to throw around that we didn't have. Hope that helps.
    11 Oct 2012, 04:20 PM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
    COMPROMISE! By the way, when Mitt talks middle class he thinks it's $200-250k.....that's a dinky middle class.....median inc is <$50k.
    11 Oct 2012, 07:40 PM Reply Like
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