Goldman Chief Shrugs Off Writedown Rumors

Don't expect Goldman Sachs(GS) to join the growing ranks of its competitors blindsided by multibillion dollar writedowns anytime soon, CEO Lloyd Blankfein said Tuesday.

Goldman has been under the microscope after reporting glowing third-quarter results as competitors, including Merrill Lynch (MER) and Citigroup(C), ousted CEOs on the heels of much larger than expected writedowns of asset-backed securities.

But Blankfein, speaking at a Merrill Lynch Banking and Financial Services Conference in New York, dismissed concerns that the Goldman franchise would take a similar hit in the near future. Responding to questions about whether Goldman would be announcing potential writedowns, the Goldman chief flatly said, "No." ...