Exclusive | Goldman’s No. 2 exec urges end to US shutdown: America ‘works better when government is open’

Goldman Sachs’ No. 2 executive is urging bickering lawmakers to end the government shutdown — warning that it poses increasing risks to the US economy.

The Wall Street giant’s chief operating officer John Waldron exclusively told The Post that a protracted spat over federal funding, which has closed most government operations since Oct. 1, could spill over into the wider IPO market.

“At the moment, I think the economy is pretty strong,” Waldron told The Post in a Wednesday interview.

Nevertheless, “The American system works better when the government is open,” Waldron said. “We are worried about the longer it goes, the worse it is.

“It can impact the pace of growth and the pace of innovation if it goes on for a long time,” the 55-year-old added. “It’s capital formation that doesn’t happen.

“The longer it goes, the more likely you have companies that don’t get comments right back from the SEC and have to defer their listing.

The Wall Street giant posted its best third-quarter ever on Tuesday, boosted by a strong performance from the firm’s traders and rainmakers.

At the same time, however, bosses warned staff to brace for job cuts, partly driven by how AI is reshaping the company’s operations.

Waldron is widely seen as CEO David Solomon’s heir apparent, and both men were awarded $80 million ‘golden handcuffs’ deals in January to stay with the bank that will be fully vested in five years.

His call for the funding lapse to end was echoed by Treasury Secretary Scott Bessent, who warned that the shutdown could cost the US economy $15 billion a day.

The former hedge fund mogul told The Post: “If you believe we need a government, then you need your government to be open.”

Their comments came just hours before the Senate failed to advance a House-passed GOP bill to fund the government for the ninth time late on Wednesday.

The shutdown happened earlier this month because Republican and Democratic lawmakers could not agree on passing legislation to fund government services into October and beyond.

All branches of the US government have to reach an agreement on spending plans before they can become law.

It means some government services are temporarily suspended, while federal employees are working without pay or on unpaid leave.

Some experts are warning that the shutdown is not “costless” with possible economic pain on the way for ordinary Americans unless a deal can be brokered on Capitol Hill.

“If the shutdown drags deep into next week, we will be venturing into uncharted territory,” Wells Fargo analysts wrote in a note to clients on Tuesday, warning that the row could even hinder some government agencies from collecting basic economic data.

“Each week of the shutdown shaves off 0.1-0.2 percentage points of quarterly economic growth,” the paper added.