Reuters reports that Goldman Sachs CEO Lloyd Blankfien said that the current economic crisis is “deeply humbling” for financial firms such as his that “got caught up in the pursuit of profits and ignored risks.”

He also said banks that got bailed out by the Feds “need” to pay back the money as soon as possible.

Goldman Sachs, the fifth-largest U.S. bank, received $10 billion from the government in October under the Troubled Asset Relief Program. It plans to pay back the funds this year, as the money comes with strings attached, such as caps on executive compensation, dividend restrictions, and limits on share repurchases.