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Block that metaphor! Blankfein on the credit crisis

April 10, 2008 |  5:18 pm

It’s early, but Goldman Sachs Group Chairman Lloyd Blankfein is at least a runner-up for the 2008 award for Most Mixed Metaphors Used to Describe the Credit Crisis in One Sitting.

Blog_lloyd At the brokerage’s annual shareholder meeting today in Lower Manhattan, Blankfein said of the credit crisis (I’m quoting here from Reuters and Bloomberg News): "We’re closer to the end than the beginning. I think we’re getting to that point where people are seeing the light at the end of the tunnel."

Then he went on to make a football-game analogy: "Maybe we’re at the end of the third quarter, beginning of the fourth quarter," he said. "If you watch sports, sometimes there’s a lot of timeouts in the fourth quarter. It takes longer to play than any of the other quarters, and sometimes it ends in a tie and goes into overtime."

And if this is the fourth quarter or overtime, he concluded, "No promises on how long that is."

Is everyone clear on this now?

Photo: Lloyd Blankfein. By Suzanne Plunkett/Bloomberg News