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" I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat... Maybe in the new world, something gets backed by consensus. "

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" In 2007, in the early 2007, everybody saw the housing market was falling, and at any given moment a lot of people thought it was going to fall more, and a lot of people thought it was going to rebound. You just didn't know. "

Lloyd Blankfein

People

Thought

You

" We've had this program for a number of years now, called 10,000 Small Businesses, where Goldman Sachs has convened a group of partners to basically give business education to small business owners. "

" The list of things that are conventional today that I use every day that I thought would never make it is a very long list. "

" To the extent I bloomed, I'm a late bloomer. "

" Too much of the GDP over the last generation has gone to too few of the people. "

" When yields on corporate bonds are lower than dividends on stocks, that unnerves me. "

Lloyd Blankfein

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" It's very hard to go out and make big investments to take advantage of the shale energy if we don't know if it's always going to be there, what price it's going to be there, whether the country's going to allow it to be exported, or whether it's going to go and affect subsidized U.S. manufacturing. "

Lloyd Blankfein

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" There is a line in which populism can cross over into demagoguery. Demagoguery is the crossover where populism becomes a bad thing, and people make things up, and they assign responsibilities that aren't fair and justified, and scapegoat communities. And then it becomes a very bad thing. "

" Change is often the agent of progress in ways we can't always readily see in the early days. "

" You can see that all these people who did really great things failed six times or didn't get going until they were much older. I think that's much more instructive and educational. "

" I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way. "

" I've learned over the years that there's a lot of things that work out pretty well that I don't love. "

" Growth requires risk-taking. If you want to dampen risk and make sure you never have a problem, you do so, but that also will have an effect on growth. This is a decision that doesn't necessarily belong to financial institutions. It belongs to regulators and legislators who represent the body politic. "

" If you had asked me, did I have everything nailed down and wired about what I wanted to do, and was I following some real plan? No. In fact, by the time I was in my mid-20s or even late-20s, and I was still in the law firm, I really was starting to get a little nervous that I didn't know what I was going to do. "

" There's not a sport or activity in life where you have a really hard grip, you actually do better. Whether it's baseball or golf or kicking a ball, the looser you are, the further the thing goes... If you're tight, you're not necessarily better. "

" Every time I get accustomed to low volatility, like we were towards the end of the Greenspan era, and we think we have all the levers under the control... something erupts to remind us that the idea that anybody is in control of everything is hubris. "

" At the end of the day, it's not a normal condition to have interest rates at zero. "

" I'd say if you wanted to forestall bad events, the best thing to do is anticipate them and try to correct them before they get close. "

" You can look at history of these things, and Social Security wasn't devised to be a system that supported you for a 30-year retirement after a 25-year career... So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised. "

" I never thought I would tweet - I thought it was too dangerous. "

Lloyd Blankfein

Thought

Dangerous

" I started out as a lawyer and came in laterally to Goldman Sachs. So I learned myself that life is unpredictable. That you really should, in terms of your career, try to be excellent at what you're doing. I think if you focus on your job, and you focus on being broad in the context of your job, the next jobs follow from that. "

" I'm the chocolate chip cookie king of the world. "

Lloyd Blankfein

Chip

Chocolate

" I don't look forward to a time when every politician, every legislator goes to Washington absolutely committed to an extreme point of view. Elected representatives are sent to Washington to compromise, not to never compromise. "

" We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't done in one stroke, and it wasn't done immediately. The Depression was in 1929 and resulted in the Securities and Exchange Act of '33, '34, '35, '37, '39, and '41. "

" You don't know how you'll react to things until you live through them. "

" You have to, in your own life, get people to want to work with you and want to help you. The organizational chart, in my opinion, means very little. I need my bosses' goodwill, but I need the goodwill of my subordinates even more. "

" My favourite day is like when it's raining, and I can just lie on the couch. "

Lloyd Blankfein

Just

Raining

" Maybe bitcoin is a kind of a bubble. I don't like it. I'm not comfortable with it. I'm kind of an old dog to be absorbing that kind of a new trick. "

" In markets, there are times when you are looking for what makes sense. At other times, you are looking for what you can do that is sensible versus constraints and uncertainties. "

" Let me tell you, there's very few places where I don't have an agenda. "