A Quote by Cathleen Schine
Nathaniel Rich wrote 'Odds Against Tomorrow' well before Hurricane Sandy and its surge crashed onto the isle of Manhattan, well before the streets were flooded and the subways drowned, only the Goldman Sachs building sparkling above the darkened avenues.
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After Hurricane Sandy, my family and I stayed in our apartment in lower Manhattan before things normalized. We're lucky enough to live on a bit of high ground, so we weren't flooded... but it was intense. Since there was no light, water, or electricity, I spent a lot of time playing acoustic guitar in the evenings.
I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.
Because I wrote a book about Goldman Sachs. And I know that, from talking to people at Goldman Sachs, that Trump is the poster child for the kind of client they don't want to do business with, mainly because he would borrow all this money from Wall Street to build his casinos, and then didn't pay it back.
As a survivor of Hurricane Katrina, I understood all too well the despair my colleagues - Republican and Democrat alike - were feeling as Hurricane Sandy ravaged their communities.
Goldman Sachs was fundamentally responsible for the crash of 2008, but by that time its former Chairman and Chief Executive Officer, Henry 'Hank' Paulson, had been installed as US Treasury Secretary to begin the bank bail out policy, with enormous benefit to Goldman Sachs, in the closing weeks of the Bush administration. Goldman Sachs was also instrumental in the collapse of the economy in Greece that started the 'euro panic' that later engulfed Ireland.
After Hurricane Katrina, over New Orleans, my helicopter crashed and the pilot and I were only saved because we fell on the roof of a flooded house that absorbed the shock. When the helicopter was spiraling downward out of control, I didn't expect to survive at all.
Why don't we have enough teachers of math and science in the public schools? One answer is well, if they knew the subject well, they'd also know enough to work for Google or Goldman Sachs or God knows where.
For New Yorkers, late October 2012 was a moment when something fundamental altered. If there were any climate change deniers in the five boroughs before Hurricane Sandy, I don't think there were too many left afterward.
The Justice Department needs to investigate how Goldman Sachs was able to steer things in such a manner through their former employees in the Bush administration, so that in the end Goldman's competitors have disappeared and Goldman is left standing.
A financial institution has the task of taking risks, and if it's a well run institution - say, Goldman Sachs - it tries to cover the potential losses to itself, but only to itself.
Goldman Sachs isn't the firm it once was when I worked for it, but it's still one of the building blocks of our capitalist society.
Goldman Sachs was one of those companies whose illegal activity helped destroy our economy and ruin the lives of millions of Americans. But this is what a rigged economy and a corrupt campaign finance system and a broken criminal justice is about. These guys are so powerful that not one of the executives on Wall Street has been charged with anything after paying, in this case of Goldman Sachs, a $5 billion fine.
The human race may well become extinct before the end of the century. Speaking as a mathematician, I should say the odds are about three to one against survival.
Events like Hurricane Katrina and Superstorm Sandy were unlike any weather disasters before. They showed the world who suffers the most from the impacts of extreme weather: low-income families and communities of color.
Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.
Before the surge started, frankly, after I left Iraq towards the end of 2006, I was worried that we were losing the war. But after the surge, I felt that we succeeded.
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