Goldman Sachs Group Inc GS chief Executive Officer David Solomon is concerned that a political standoff over the US debt ceiling could lead to a financial crisis.

“This is something we should take very seriously because the consequences of a mistake will be real,” he told Reuters in an interview on the sidelines of the World Economic Forum in Davos.

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Solomon also hinted that he and Goldman would try to “team up” with Washington officials. “I’m concerned and will take every opportunity that I can and we as a company can to reach out to the people of Washington to make sure they understand that we don’t think this is something that should be.” be played with,” he said, according to the report.

Exceptional Measures: The US government hit its $31.4 trillion credit limit on Thursday Treasury Secretary Janet Yellen She reportedly informed congressional leaders that her department had begun employing extraordinary cash management measures that could avert default by June 5.

The so-called extraordinary measures, or accounting maneuvers, include suspending investments for certain government accounts to allow the Treasury Department to make payments to bondholders and Social Security beneficiaries by June, according to a Wall Street Journal report.

Not only Solomon but also other experts have expressed their concerns about the looming crisis. Former Minister of Finance Lawrence Summers said so It would be “catastrophic” for the United States to default on its debt. “I think at the end of the day we will honor our commitments and not cause any significant disruption. But god, I wish we could get over this,” Summers said.

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Read more coverage of the Davos Summit by Benzinga here.

photo by World Bank on Flickr