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Profits, assets and influence have moved from investment banks like Goldman Sachs to money-management giants like BlackRock and Vanguard, the asset managers collectively known as the ‘buy side’
Catch him in an unguarded moment, and Lloyd Blankfein will tell you his biggest strategic regret in 12 years running Goldman Sachs Group Inc.
It isn’t the mortgage trades that invited public wrath or the congressional testimony that fanned the flames, although there are things he would do differently on both fronts. It is a missed deal.