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" 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. "

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" 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. "

Lloyd Blankfein

Other

Sense

You

" 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. "

" 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. "

" 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

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

" 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. "

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

" 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. "

" 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. "

" 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. "

" My - I grew up in - I grew up in public housing. My dad, for most of my life, worked for the post office, which was a terrific job to get because you couldn't lose your job. "

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

Lloyd Blankfein

Than

Stocks

" 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. "

" 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. "

" 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. "

" 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. "

" The best traders are not right more than they are wrong. They are quick adjusters. They are better at getting right when they are wrong. "

Lloyd Blankfein

Right

Wrong

" 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. "

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

" 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. "

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

Lloyd Blankfein

Just

Raining

" 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. "

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

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

Lloyd Blankfein

Chip

Chocolate

" I am one with the popular culture. "

" 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. "

" 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. "

" 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. "