The chief executive of Goldman Sachs (GS) is calling for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private equity funds.
Lloyd Blankfein said lessons from the financial crisis include the need to "apply basic standards to how we compensate people in our industry," including specific guidelines on pay.
Blankfein also said unregulated pools of capital big enough to potentially burden the financial system in a crisis should be put under "some degree" of government oversight. Those would include large hedge funds and private equity funds.
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