Walt: I watched Jane die.
*Jesse looks at Walt in disbelief as his face turns from worried to angry*
Walt: I was there...and I watched her die. I watched her overdose and choke to death. I could've saved her. But I didn't.
Jane Margolis was Jesse’s first love of the show. They had plans to run off to New Zealand together with Jesse’s money, but before they could they decided to get high one last time.
While they slept Walt rushed into Jesse’s house in an attempt to reconcile with him. This was when Jane started to overdose on heroine and throw up and because she was lying on her back she started to choke on her own vomit. Walt watched as she died, thinking her death would set Jesse down the right path.
To help improve the meaning of these lyrics, visit "Ozymandias" by Breaking Bad (Ft. Moira Walley-Beckett & Rian Johnson) and leave a comment on the lyrics box