David i dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . David after 16 years as the ceo of ge, you have stepped down. Is a big burden off your shoulders now . Jeffrey i do think if you are doing the job well, you feel ownership over everybody who is a constituency, and you wear that 24 hours a day, seven days a week. Look, i think 16 years is a long time to run one of these companies and i am starting to feel a little bit of decompression, lets say. David do you think it is too long to run a publicly traded company for someone like you . Jeffrey thats a good question. I think there is a right time and wrong time in terms of doing it. A company our size, you need to run it long enough to make a difference, shape strategy. It has always been our philosophy to give a c
Lacqua we speak with the vicechairman of blackrock, the worlds biggest money manager. After the financial crisis, what have we learned . We have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Things tend to be amplified. Thats the key thing. Thisve also learned that notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. Ways, i wish we had focused more on the capital all of theless on other things that have made it into the regulatory reform. A concern now of regulating the financial crisis, and we may miss the next one . We might, there shouldnt be any illusions. Financial crises should not disappear from the pages of future history books. We have to be realistic. I dont think we are ov
Vicechairman of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the regulatory reform. Francine is there a concern now of regulating the financial crisis, and we may miss the next one . We might, there shouldnt be any illusions. Financia
Of blackrock, the worlds biggest money manager. It handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the regulatory reform. Francine is there a concern now of regulating the financial crisis, and we may miss the next one . We might, there shouldnt be any illusions. Financial crises shou
, we speak with the vicechairman of blackrock, the worlds biggest money manager, which handles more than 5 trillion in assets. After the financial crisis, what have we learned . Philipp we have too much had too much leverage in the system without any doubt. When you have too much leverage, bad things happen. Not only do they happen, but when they happen, things tend to be amplified. Thats the key thing. We have also learned that this notion of letting the market be totally free, that governments should get out of the way, that wasnt a good idea. What stands out is banks needed much more capital than they had at the time. We had capital levels that were excessively low. In some cases, these banks were leveraged nearly 100 times. That, to me, has always been the key takeaway. In some ways, i wish we had focused more on the capital issue, and less on all of the other things that have made it into the Regulatory Reform realm. Francine is there a concern now of regulating the financial cris