Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.
In a special "Executive Decision" segment, Cramer spoke with Lloyd Blankfein, chairman and CEO at Goldman Sachs (GS) , for an update on the global economy and the state of affairs in Washington.
Blankfein said that the overall economic picture is looking pretty good right now. The U.S. is near full employment, we have low energy costs and things are growing. Around the world, he said, things are also growing, albeit at a slower pace. It's not great, he added, but it's good.
As for Trump's plans for deregulation, Blankfein said that changes will take time, but at least in the interim, regulations are not getting any worse. It took a long time for regulations to layer up, he said, so it will take time to unwind them and make them manageable.
When asked about the 2008 financial crisis, Blankfein noted that in hindsight, it's easy to spot the mistakes, but back then, the notion that housing prices would fall across the entire country at the same time was just not something they modeled. "The banks got it wrong," he admitted.
Also in his interview with Cramer, Blankfein commended both Ben Bernanke and Janet Yellen for preventing what could have been a much worse recession. While many complain about the slow recovery, it could have been a lot worse. Blankfein said things like stress tests and higher capital requirements were a good thing for Goldman, if for no other reason than to make sure their counterparts were in solid financial shape.
Blankfein also commented on his recent taking to Twitter (TWTR) to voice his opinions. He said that previously, he would have communicated via news release, but today, he's free to comment anywhere Goldman has expertise or anywhere there are issues affecting his employees' ability to be effective, whether that be a travel ban or LGBT issues.
Finally, Blankfein talked about Goldman's expansion into personal loans with Marcus.com, where they make loans from $3,500 to $30,000 available. He said they're taking a slow-growth approach to Marcus but are already helping consumers and transforming their business in all new ways.
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