Former Goldman Sachs CEO Reflects on Wall Street Crises

Lloyd Blankfein writes about his rise from public housing to the top of finance in new memoir

Published on Mar. 8, 2026

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In his new memoir "Streetwise," former Goldman Sachs CEO Lloyd Blankfein reflects on his journey from growing up in public housing in New York City to leading the bank through the 2008 financial crisis. Blankfein discusses the inevitability of future crises, his personal responsibility for the fallout, and his views on diversity programs in finance.

Why it matters

Blankfein's experiences provide insight into the challenges and pressures faced by leaders of major financial institutions, especially during times of crisis. His perspective on the 2008 crisis and its aftermath sheds light on the complex dynamics between Wall Street, regulators, and the public.

The details

Blankfein grew up in a small apartment in public housing in Brooklyn, with his father working multiple jobs. After getting into Harvard at 16, he joined Goldman Sachs in 1981 and rose to become CEO in 2006, just before the 2008 financial crisis. Blankfein writes that the crisis was the most "calamitous and dramatic" event he experienced on Wall Street, and he felt a deep sense of personal responsibility for the losses suffered by investors. He believes future crises are inevitable, likening the "kindling" on the "floor of a forest" that will eventually be ignited by some "spark." Blankfein also shares his views on diversity programs, arguing they can be "counterproductive" and that firms should focus on advancing careers and education for all employees.

  • Blankfein became CEO of Goldman Sachs in 2006.
  • The 2008 financial crisis occurred during Blankfein's tenure as CEO.
  • Blankfein retired from Goldman Sachs in 2018.
  • Blankfein's new memoir "Streetwise" was published in 2026.

The players

Lloyd Blankfein

The former CEO of Goldman Sachs who led the bank through the 2008 financial crisis and has now written a memoir about his experiences.

Goldman Sachs

The multinational investment bank and financial services company where Blankfein served as CEO from 2006 to 2018.

Sen. Carl Levin

A U.S. Senator who grilled Blankfein and other bank executives during Congressional hearings investigating the financial crisis.

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What they’re saying

“It's been a long time since we've had a bad event. It's been 17 years since the financial crisis.”

— Lloyd Blankfein, Former CEO, Goldman Sachs (CBS News)

“You had to get the banks out of distress so they would perform their intermediation role of getting money out there. But for a lot of people – and I understand this – it wasn't punishment enough.”

— Lloyd Blankfein, Former CEO, Goldman Sachs (CBS News)

“Senator, I think people do trust us.”

— Lloyd Blankfein, Former CEO, Goldman Sachs (CBS News)

What’s next

Blankfein's memoir "Streetwise" is expected to provide further insights into his experiences leading Goldman Sachs during the financial crisis and his views on the future of the financial industry.

The takeaway

Blankfein's journey from public housing to the top of Wall Street, and his reflections on the 2008 crisis, underscore the complex dynamics and challenges faced by leaders in the finance industry. His perspectives on the inevitability of future crises and the role of diversity programs in finance offer a unique and thought-provoking viewpoint.