542 “The problem in politics is this”: From a Barney Frank interview on CBS’s 60 Minutes that first aired on December 11, 2008.
543 It is not the critic: Theodore Roosevelt, “Citizenship in a Republic: ‘Man in the Arena.’” Speech at the Sorbonne, Paris, April 23, 1920.
AFTERWORD
545 “The people on Wall Street still don’t get it”: 60 Minutes, CBS News transcripts, December 7, 2009.
545 unemployment in the United States hovered at almost 10 percent for much of 2009: U.S. Bureau of Labor Statistics.
545 Goldman Sachs announced a record profit: Goldman Sachs earnings report, January 21, 1010.
546 Wall Street swarmed Washington with some 1,400 lobbyists: Not only were they lobbyists for the financial industry, but they formerly worked for lawmakers and federal agencies. Public Citizen and the Center for Responsive Politics, June 4, 2010.
546 paying the top ten lobbying firms $30 million: The Center for Public Integrity, June 8, 2010.
546 “I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street”: 60 Minutes, CBS News transcripts, December 7, 2009.
546 “President Obama’s favorite banker”: Jackie Calmes and Lousie Story, “Washington, One Bank Chief Still Holds Sway,” New York Times, July 18, 2009.
546 “I’m proposing a simple and common-sense reform, which we’re calling the ‘Volcker Rule’ ”: President Obama, the White House, Office of the Press Secretary, January 21, 2010.
546 “For a lot of Wall Street people, it was like, ‘Okay, first you slap us in the face’ ”: John Heilemann, “Obama Is from Mars, Wall Street Is from Venus,” New York Magazine, May 22, 2010.
547 “I wish that somebody would give me some shred of neutral evidence about the relationship between financial innovation recently and the growth of the economy”: Paul Volcker: “Think More Boldly,” Wall Street Journal, December 14, 2009.
547 “When there’s a delusion, a mass delusion, you can say everybody is to blame”: Warren Buffett, CNBC transcript, May 3, 2010.
548 Anton R. Valukas, issued a report that, at over 2,200 pages and a cost of more than $36 million, was the closest thing to an autopsy of Lehman: The report is available online: http://lehmanreport.jenner.com/.
549 “I have absolutely no recollection whatsoever of hearing anything about or seeing documents related to Repo 105 transactions while I was the CEO of Lehman”: Richard S. Fuld Jr., prepared statement before the U. S. House of Representatives Committee on Financial Services, April 20, 2010.
549 “You know what, people are saying all sorts of crap”: Clare Baldwin, “On Dick Fuld ’s Trail, No Dinner but I Got Hugged,” Reuters, September 7, 2009.
550 “doing God’s work”: John Arlidge, “I’m Doing ‘God’s Work.’ Meet Mr. Goldman Sachs,” Sunday Times, November 8, 2009.
550 “I mean, they’re going to rewrite Genesis and have Goldman Sachs offering the apple”: Warren Buffett, CNBC transcripts, April 16, 2010.
550 In April 2010 the Securities and Exchange Commission brought its only major case against Wall Street since the crisis: SEC v. Goldman Sachs & Co. and Fabrice Tourre.
550 legal experts described the case as “thin”: Kian Abouhossein, a banks analyst at JPMorgan told the Financial Times on April 21, 2010, “The SEC has a very weak case, but for the business, for shareholders, the best thing is probably to settle. If they settle, they can start silencing the debate about reputational damage and share price damage.”
551 “Boy that timeberwof [sic] was one shitty deal ”: The Goldman e-mail had been subpoenaed by the U.S. Senate Permanent Subcommittee on Investigations. It is available, along with other internal Goldman e-mails: http://levin.senate.gov/newsroom/supporting/2010/PSI.Exhibits.pdf.
551 “I think that’s very unfortunate to have on e-mail”: David Viniar, CSPAN, April 27, 2010.
551 “I don’t trust Goldy on this”: The e-mail had been subpoenaed by the U.S. Senate Permanent Subcommittee on Investigations. It is available: http://levin.senate.gov/newsroom/supporting/2010/PSI.Exhibits.pdf.
552 “People need to tone down the rhetoric around financial services and stop the populism and be adults”: Transcript, 92nd St. Y Captains of Industry Event, May 6, 2010. 552 “I don’t have a problem with the Abacus transaction at all”: Andrew Ross Sorkin, “From Buffett, Thought-out Support for Goldman,” New York Times, May 3, 2010.
552 “I didn’t think a lot about theory. I just understood how bad it could be”: Henry M. Paulson, promoting his book on CBS Sunday Morning, January 31, 2010.
553 “must be looking forward to going back to that nice spot you have waiting for you at Goldman”: John Heilemann, “Obama Is from Mars, Wall Street Is from Venus,” New York Magazine, May 22, 2010.
554 “The fact is that some businesses require size”: Jamie Dimon’s letter to investors in JPMorgan Chase’s annual report from 2010.
554 “We cannot control ourselves”: John Mack made this comment at a Vanity Fair/Bloomberg News panel discussion on media coverage of the financial crisis on November 18, 2009. Michael J. Moore, “Morgan Stanley’s Mack Welcomes Regulation by Fed,” Bloomberg News, November 19, 2009.
555 “This generation of Wall Street CEOs could be the ones to forfeit America’s trust”: Elizabeth Warren, “Wall Street’s Race to the Bottom,” Wall Street Journal, February 9, 2010.
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