Blankfein warns of a 'reckoning' for markets

• Blankfein highlights the absence of a market 'reckoning' for an extended period, noting that we haven't experienced a 'crisis of the century' since the global financial crisis.
• He points out that private equity firms are not actively selling their prior investments, even after a strong equity and financing market, implying potential overvaluation on balance sheets.
• Blankfein states that the longer the interval between market reckonings, the worse the potential outcome could be.

Former Goldman Sachs CEO Lloyd Blankfein warns of an impending 'reckoning' for financial markets, emphasizing the unusually long period without a significant market correction since the global financial crisis. He suggests that assets, particularly in private equity, may not be accurately valued due to a lack of 'forcing functions' to reprice them, and that the longer this situation persists, the more severe the eventual correction could be.