In an article written for today's Financial Times, as the Obama administration prepares to rewrite the rule book governing the US banking industry, Mr Blankfein outlines seven areas of misdemeanour – ranging from “complexity [getting] the better of us” to the “outsourcing of risk management” to ratings agencies.
Two days before he and other Wall Street bigwigs are due to testify before a Congressional committee, Mr Blankfein calls for the elevation of risk and control disciplines within the nation's banks.
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