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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. "

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" If you do something really well, the entire world beats a path to your door. The number three, number five, number 400 player gets nothing. It's almost a winner take all. "

Lloyd Blankfein

You

Door

Path

" I always had a lot of confidence in my ability to gauge a situation and people and try to understand them and what they were saying and what their context was. "

" 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. "

" I always thought that a prep school was what some people went to after high school to prepare themselves for college. "

" 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

Manufacturing

Energy

" 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. "

" The ability for employment benefits to be shared among spouses, the ability to move people who are dependent on visas for trailing spouses, all hinges on being able to deal with families of gay people in the same way that you deal with families of straight people. Otherwise, they can't move around. "

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

" 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'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. "

" No one at Goldman Sachs gets paid out of his or her own P&L. It matters how your business is doing, but it matters more how the firm as a whole is doing. "

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

" Businesses will ultimately go where the markets and opportunities are. "

" 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. "

" I would have liked to be a nerd. I didn't even make it to that. "

" Mysterious can be cool, if you're in Hollywood and everyone's happy. But it can be really bad if people perceive that the financial interests are adversarial, that there's money versus people. A lot of Goldman Sachs people went into government, so at a time when there's a distrust of institutions, some of that reflects on us. "

" 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. "

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

" 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. "

" 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. "

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

Lloyd Blankfein

Than

Stocks

" I got into Goldman really by acquisition because I had gone - I grew up in east New York in the Linden Projects - I did go to fancy schools, but my resume wasn't up to a Wall Street set of resumes. I went to college. I went to law school and practiced for a while. "

" In my own experience, I plotted and planned my life when I was getting out of law school to know by what year I'd make it to the Supreme Court. That didn't work out the way I planned. "

" 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. "

" If you can't legislate, you can't deal with problems. "

" 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. "

" With interest rates rising, gold doesn't pay an interest rate, but every other currency - it becomes not only less important to hold gold as an alternative, but more expensive to hold it as an insurance policy and so that will be a burden on the price of gold. "

" As CEO of a big company, I have to be a kind of a champion of the interests of our people as insofar as their ability to do their job, to feel comfortable in their work environment, and to be able to fulfill their ambitions. "