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. Lloyd Blankfein Read Quote
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. Lloyd Blankfein Read Quote
I’ve learned over the years that there’s a lot of things that work out pretty well that I don’t love. Lloyd Blankfein Read Quote
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 Read Quote
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. Lloyd Blankfein Read Quote
There is a tradition in America of people in business not only commenting on the way the government is being run but doing something about it if they don’t like it. In fact, they don’t just rail about it: they go into government, like some of my ex-colleagues. Lloyd Blankfein Read Quote
The U.S. is not pure capitalism. In fact, there’s no place for pure capitalism, unregulated capitalism. We have a regulated system. Lloyd Blankfein Read Quote
I always thought that a prep school was what some people went to after high school to prepare themselves for college. Lloyd Blankfein Read Quote
