Tag Archives: 1-2

Live From the Milken Institute Global Conference

26 Apr

Myself & 1-2 are lucky enough to be here in LA for The Milken Institute’s Global Conference. I will be live-tweeting (and possibly blogging) my thoughts from a number of Panels through the next 3 days, so check back and follow me on twitter and @onetwoko as well.


Guest Post: Quote From Colonel L. Blankfein Jessup Before a Commission of Inquiry

23 Apr

From 1-2 aka @onetwoko

“You want the truth? You can’t handle the truth. Son, we live in a
country with an investment gap. And that gap needs to be filled by men with money. Who’s gonna do it? You? You, Middle Class Consumer?

Goldman Sachs has a greater responsibility than you can possibly fathom.

You weep for Lehman and you curse derivatives. You have that luxury.
You have the luxury of not knowing what we know: that Lehman’s death, while tragic, probably saved the financial system. And that Goldman’s existence, while grotesque and incomprehensible to you, saves pension

You don’t want the truth. Because deep down, in places you don’t talk about at parties, you want us to fill that investment gap. You need us to fill that gap.

“We use words like credit default swaps, collateralized debt obligation, and securitization… We use these words as the backbone of a life spent investing in something. You use ’em as a punchline. We have neither the time nor the inclination to explain ourselves to a commoner who rises and sleeps under the blanket of the very credit we provide, and then questions the manner in which we provide it!

We’d rather you just said thank you and paid your taxes on time.

Otherwise, we suggest you get an account and start trading. Either way, we don’t give a damn what you think you’re entitled to!”