We don't know what stuff Lloyd is smoking these days but Goldman Sachs CEO Lloyd Blankfein described President Barack
Obama's plan for Washington to reach an agreement on the "fiscal
cliff" as detailed and "very credible." However, he cautioned CNBC
that marginal income tax rates may have to rise to seal a deal.
In an interview with CNBC after meetings between the
president and several CEOs, Blankfein said, of course, it's hard to tell if a
deal will be reached but "if I were involved in a negotiation like this,
and everybody was purporting to be where they are, I would say that an
agreement was reachable."
Blankfein said he thought concessions on both the revenue
and entitlement sides would be necessary to reach a final deal to avert the
fiscal cliff, when large spending cuts and tax increases are slated to take effect
on Jan.1....
Seems? Read all about it at http://www.cnbc.com/id/50000436
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