Goldman CEO on risk: The worst 'absolutely will happen'

This is a stunning revelation from Lloyd Blankfein, CEO of Goldman Sachs, coined the "squid vampire" by Rolling Stone's Matt Taibbi in his article The Great American Bubble Machine.

http://www.cnbc.com/id/100915696

"Most risk management is really just advanced contingency planning and disciplining yourself to realize that, given enough time, very low probability events not only can happen, but they absolutely will happen," said Blankfein.