Lloyd Blankfein

And what we, you know, our role in this is a market maker.

People come to us and say, I would like this, I would like this risk.

And then we sell it to them.

And we principle and we take that risk until we can scurry and find the other side or something that's like it enough so that we could be reasonably hedged.

And, you know, we've been doing that for about 150 years.

By the way, that's what makes the economy and the market go on and go on.

When James Bond defuses the bomb, no one ever appreciates how close to destruction it was because it was defused.

It never happened.

This was a situation in which everybody, all companies, especially but not limited to financial institutions, every company has to finance itself, has commitments it has to honor.

It's receiving revenue and it's paying out revenue all the time.

And during a crisis like this,

everyone was suspect about the solvency of everyone else they were dealing with.

Right.

And so what happens at that, so that happens is if you have an obligation to pay someone and he's going to pay you, you want to see your, you want to see the money from him come into you first before you pay.

And you get a whole daisy chain effect.

Or the, or the money from somebody else.

So this is a market.

So,

Even if you're an industrial company, I'm selling cars to a wholesale dealer.

The money has to come in so I could pay the cost of my raw materials.