Lloyd Blankfein

And that's how that, yes, that's how it was done.

The one notable exception maybe from an inner Hennecro store was the acquisition of J. Aaron.

Yeah.

And I know you have, I think, the 45th anniversary dinner tonight.

I guess...

Did people at the time think that they would have such a big impact on a firm?

Or maybe... Well, I was an acquiree, so I don't know what they thought at the time.

I subsequently found out what they felt about it, and it was a disaster.

And it was a little bit like Columbus trying to find the Indies and instead finds America.

It turned out okay, but for different reasons.

They discovered something, but not what they intended to discover.

So they ended up getting a bit of an entrepreneurial culture that they didn't know were buying.

But certainly, at the time...

This was in the early 80s.

It was a moment of high inflation.

That inflation and the manifestation was higher commodity prices, precious metals.

Gold had only been recently freed up to be able to be owned by individuals.

We'd been on the gold standard.

That evolved.

It's hard to transport back to that time.