S A Sachs Quotes & Sayings

I think there's a fear of difference in American cinema. — Ira Sachs

One of the key psychological characteristics of the Tea Party is its oxymoronic love of authority figures coupled with a narcissistic celebration of its own "revolutionary" defiance. It's this psychic weakness that allows this segment of the population to be manipulated by the likes of Sarah Palin and Glenn Beck. The advantage is that their willingness to take orders has allowed them to organize effectively (try getting one hundred progressives at a meeting focused on anything). The downside is, they see absolutely nothing weird in launching a revolution based upon the ravings of a guy who's basically a half-baked PR stooge shoveling propaganda coal for bloodsucking transnational behemoths like JPMorgan Chase and Goldman Sachs. — Matt Taibbi

There's a lot of strength in the U.S., but there's a lot of froth also. The froth will blow off. We're going to have to face up to some realities that we're not fully facing up to right now. — Jeffrey Sachs

Even souvenir seekers. One of the worst contaminants was fellow officers, especially brass grandstanding if reporters were present and eager to grab a video bite to slap on the twenty-four-hour news cycle. One more glance at the circular coffin. Okay, Amelia Sachs thought: Knuckle time ... A phrase of her father's. The man had also been cop, a beat patrolman working the Deuce - Midtown South; back then Times Square was like Deadwood in the 1800s. "Knuckle time" referred to those moments when you have to go up against your worst fears. Breadbasket ... Sachs returned to the access door and climbed through it and down into the utility room below the cellar. Then she took the evidence collection gear bag from the other officer. Sachs said, "You search the basement, Jean?" "I'll do it now," Eagleston said. "And then get everything into the RRV." They'd done a fast examination of the cellar. But it was apparent that the perp had spent minimal time there. He'd grabbed Chloe, subdued — Jeffery Deaver

The United States is absolutely ripe for a rise in gasoline taxes. The nominal gasoline excise tax rate has been fixed at 18.4 cents per gallon since 1994.29 Inflation alone has reduced the real value of that tax per gallon by around 30 percent. As with other federal tax rates, the U.S. excise tax rate on gasoline is extremely low by international comparison. We might conservatively assume that by 2015 an extra 0.5 percent of GDP could be collected by some combination of a higher gasoline excise tax and modest carbon levies on other fossil fuels (such as on coal at the utilities). Other — Jeffrey D. Sachs

There was more than one way to think about Mike Burry's purchase of a billion dollars in credit default swaps. The first was as a simple, even innocent, insurance contract. Burry made his semiannual premium payments and, in return, received protection against the default of a billion dollars' worth of bonds. He'd either be paid zero, if the triple-B-rated bonds he'd insured proved good, or a billion dollars, if those triple-B-rated bonds went bad. But of course Mike Burry didn't own any triple-B-rated subprime mortgage bonds, or anything like them. He had no property to "insure" it was as if he had bought fire insurance on some slum with a history of burning down. To him, as to Steve Eisman, a credit default swap wasn't insurance at all but an outright speculative bet against the market - and this was the second way to think about it. — Michael Lewis

America cut back on "welfare" from the 1970s onward. Family income support fell from 0.4 percent of GDP in 1970 to under 0.2 percent in 2010.16 Welfare still looms large in the public's imagination, but it plays little role in the budget and the deficit. It's been a long time since America was generous to its poor families with children! The — Jeffrey D. Sachs

Hello Kitty is an icon that doesn't stand for anything at all. Hello Kitty never has been, and never will be, anything. She's pure license; you can even get a Hello Kitty car! The branding thing is completely out of control, but it started as nothing and maintains its nothingness. It's not about the ego, and in that way it's very Japanese. — Tom Sachs

Sustainability, or fairness to the future, therefore involves the concept of stewardship, the idea that the living generation must be stewards of the earth's resources for the generations that will come later. That's a tough role to play. There is nothing natural or innate about it. We need to defend the interests of those whom we've never met and never will. Yet those are our descendants and our fellow humanity. Alas, it's a role that we've mostly ignored till now, to the increasing peril of all who will follow. The — Jeffrey D. Sachs

The rich control our politics to a huge extend. In return they get tax cuts and deregulation. It's been and is an amazing ride for the rich. — Jeffrey D. Sachs

It was in Cardiff, and the cast was 60 per cent Welsh-speaking. It's the first time I've walked into a rehearsal room speaking my mother tongue, which in itself was a breath of fresh clean air from the Welsh mountains. Singing Hans Sachs is always a milestone, but I was happy to be part of such an achievement, not personally but as a company. — Bryn Terfel

It's easy to make a film, but it's hard to make a career of being a filmmaker. — Ira Sachs

That was Eisman's logic: the logic of Wall Street's pecking order. Goldman Sachs was the big kid who ran the games in this neighborhood. Merrill Lynch was the little fat kid assigned the least pleasant roles, just happy to be a part of things. The game, as Eisman saw it, was crack the whip. He assumed Merrill Lynch had taken its assigned place at the end of the chain. On — Michael Lewis

Every time Sachs posed for a picture, he was forced to impersonate himself, to play the game of pretending to be who he was. After a while, it must have had an effect on him. ( ... ) They say that a camera can rob a person of his soul. In this case, I believe it was just the opposite. With this camera, I believe that Sachs's soul was gradually given back to him. — Paul Auster

In truth, it's not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.'s derivatives deals - firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Societe Generale, Barclays and UBS. — Tyler Cowen

Guys who can't get a job on Wall Street get a job at Moody's, as one Goldman Sachs trader-turned-hedge fund manager put it. — Michael Lewis

Here, in 2001, entered Goldman Sachs, which engaged in a series of apparently legal but nonetheless repellent deals designed to hide the Greek government's true level of indebtedness. For these trades Goldman Sachs - which, in effect, handed Greece a $1 billion loan - carved out a reported $300 million in fees. — Michael Lewis

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold. — Jeffrey Sachs

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. — Noam Chomsky

I left Goldman Sachs. I was thinking about going to another Wall Street place. I didn't want to do that. That was crazy. After you work on Wall Street, it's a choice: would you rather work at McDonald's or on the sell side? I would choose McDonald's over the sell side. — David Tepper

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. — Nouriel Roubini

Why, for example, wasn't AIG required to reserve capital against them? Why, for that matter, were Moody's and Standard & Poor's willing to bless 80 percent of a pool of dicey mortgage loans with the same triple-A rating they bestowed on the debts of the U.S. Treasury? Why didn't someone, anyone, inside Goldman Sachs stand up and say, "This is obscene. The rating agencies, the ultimate pricers of all these subprime mortgage loans, clearly do not understand the risk, and their idiocy is creating a recipe for catastrophe"? — Michael Lewis

I think it's interesting: What is the generational effect of the experience of being a gay person in America? For my generation, it was very difficult. — Ira Sachs

it is the provision of public services, notably the universal access to affordable day care, even more than income support to families, that is key to the elimination of poverty among families with children. Sweden's public services, of uniformly high quality, ensure a decent start for all children. Sweden — Jeffrey D. Sachs

Lots of people wrote to the magazine to say that Marilyn vos Savant was wrong, even when she explained very carefully why she was right. Of the letters she got about the problem, 92% said that she was wrong and lots of these were from mathematicians and scientists. Here are some of the things they said: 'I'm very concerned with the general public's lack of mathematical skills. Please help by confessing your error.' -Robert Sachs, Ph.D., George Mason University ... 'I am sure you will receive many letters from high school and college students. Perhaps you should keep a few addresses for future columns.' -W. Robert Smith, Ph.D., Georgia State University ... 'If all those Ph.D.'s were wrong, the country would be in very serious trouble.' -Everett Harman, Ph.D., U.S. Army Research Institute — Mark Haddon

By early 2005 all the big Wall Street investment banks were deep into the subprime game. Bear Stearns, Merrill Lynch, Goldman Sachs, and Morgan Stanley all had what they termed "shelves" for their subprime wares, with strange names like HEAT and SAIL and GSAMP, that made it a bit more difficult for the general audience to see that these subprime bonds were being underwritten by Wall Street's biggest names. — Michael Lewis

'How to Survive a Plague' is history-telling at its best. It's a film I'll show my two children, now toddlers, when they are old enough to understand. It's a movie that I cannot forget. — Ira Sachs

So there's a choice that I made to tell stories that are still psychological melodramas about domestic issues. The challenge is to figure out how to make 10 films a career as a filmmaker, and that's a really challenging thing. — Ira Sachs

I think that Goldman Sachs and the Pentagon determine more of America's outcome then any president or any congress, that sounds a bit cynical, but I think I am right. — Henry Rollins

world is not a zero-sum struggle in which one country's gain is another's loss. — Jeffrey D. Sachs

It's easy to see why politicians would be drawn to the populist pose. First, it makes everything so simple. The economic crisis was caused by a complex web of factors, including global imbalances caused by the rise of China. But with the populist narrative, you can just blame Goldman Sachs. — David Brooks

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. — Michael Moore

Our global corporate investment bank competes with Goldman Sachs, Citibank, and a bunch of other banks that are in those businesses. We may have slightly different products or services, but so what? That's always been true in American business. — Jamie Dimon

Museum Work and Museum Problems" course, the first academic program specifically designed to cultivate and train men and women to become museum directors and curators. In addition to the connoisseurship of art, the "Museum Course" taught the financial and administrative aspects of running a museum, with a focus on eliciting donations. The students met regularly with major art collectors, bankers, and America's social elite, often at elegant dinners where they were required to wear formal dress and observe the social protocol of high culture. By 1941, Sachs's students had begun to fill the leadership positions of American museums, a field they would come to dominate in the postwar years. — Robert M. Edsel

People like Mike McConnell don't really move from public office to the private sector and back again; that implies more separation than actually exists. Rather, the U.S. government and industry interests essentially form one gigantic, amalgamated, inseparable entity - with a public division and a private one. When someone like McConnell goes from a top private sector position to a top government post in the same field, it's more like an intracorporate reassignment than it is like changing employers. When McConnell serves as DNI he's simply in one division of this entity, and when he's at Booz Allen he is in another. It's precisely the same way that Goldman Sachs officials endlessly move in and out of the Treasury Department and other government positions with financial authority, or the way that health care and oil executives move in and out of government agencies charged with regulating those fields. In — Glenn Greenwald

What I loved about 'Goodfellas' is that it's a film about bad behavior - but told with great energy and without judgment - but it doesn't actually shy away from the consequences of that behavior in the characters' lives, which I think is similar in 'Keep the Lights On.' — Ira Sachs

There's a lot of things lost in the Digital Age. — Ira Sachs

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days. — Jeffrey Sachs

Mysterious can be cool, if you're in Hollywood and everyone's happy. But it can be really bad if people perceive that the financial interests are adversarial, that there's money versus people. A lot of Goldman Sachs people went into government, so at a time when there's a distrust of institutions, some of that reflects on us. — Lloyd Blankfein

Once we acquired the power to destroy ourselves, the very notion of human life had been altered; even the air we breathed was contaminated with the stench of death. Sachs was hardly the first person to come up with this idea, but considering what happened to him nine days ago, there's a certain eeriness to the obsession, as if it were a kind of deadly pun, a mixed-up word that took root inside him and proliferated beyond his control. — Paul Auster

I want labor to be the point, because everything in our lives is miraculously made with no idea of how it's done. As an active and critical consumer, and as someone who has attempted to make the flawless and failed, I wanted a transparency of construction here. If we know how it is made and how it falls apart, we will know how to rebuild it. — Tom Sachs

If there is a true measure of a person's soul, if there is a single gauge of real divinity, of how beautifully a fellow human honors this life, has genuine spiritual fire and is full of honest love and compassion, it has to be right there, in the eyes.
The Dalai Lama's eyes sparkle and dance with laughter and unbridled love. The Pope's eyes are dark and glazed, bleak as obsidian marbles. Pat Robertson's eyes are rheumy and hollow, like tiny potholes of old wax. Goldman Sachs cretins, well, they don't use their own eyes at all; they just steal someone else's. — Mark Morford

In 2008, Goldman Sachs only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department. — Bernie Sanders

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. — Matt Taibbi

We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy. — Jeffrey Sachs

I believe myself that there's a great deal more interest and engagement among Americans than our politicians recognize. — Jeffrey Sachs

It's quite possible to arrive in the year 2030 where people are no longer dying of poverty. We could actually help lead a global end-not a reduction, but an end-to absolute poverty ... I have always found that a committed, powerful group of leaders, can make a huge difference. — Jeffrey Sachs

The Millennials, as a result, are less likely to be divided or even torn asunder by the culture wars of the boomer generation. They will live naturally with diversity. They will accept a more activist government. They will be more attuned to environmental needs. All this points in the direction of the mindful economy, if the healing strengths of the Millennial generation's tolerance and optimism are mobilized for collective political action. What, — Jeffrey D. Sachs

We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different. — Jeffrey Sachs

Goldman Sachs itself - and so Goldman was in the position of selling bonds to its customers created by its own traders, so they might bet against them. Secondly, there was a crude, messy, slow, but acceptable substitute for Mike Burry's credit default swaps: the actual cash bonds. According to a former Goldman derivatives trader, Goldman would buy the triple-A tranche of some CDO, pair it off with the credit default swaps AIG sold Goldman that insured the tranche (at a cost well below the yield on the tranche), declare the entire package risk-free, and hold it off its balance sheet. Of course, the whole thing wasn't risk-free: If AIG went bust, the insurance was worthless, and Goldman could lose everything. Today Goldman Sachs is, to put it mildly, unhelpful when asked to explain exactly what it did, and this lack of transparency extends to its own shareholders. If a team of forensic accountants went over Goldman's books, they'd be shocked at just how good Goldman is at hiding things, — Michael Lewis

The people in a position to resolve the financial crisis were, of course, the very same people who had failed to foresee it: Treasury Secretary Henry Paulson, future Treasury Secretary Timothy Geithner, Fed Chairman Ben Bernanke, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO John Mack, Citigroup CEO Vikram Pandit, and so on. A few Wall Street CEOs had been fired for their roles in the subprime mortgage catastrophe, but most remained in their jobs, and they, of all people, became important characters operating behind the closed doors, trying to figure out what to do next. With them were a handful of government officials - the same government officials who should have known a lot more about what Wall Street firms were doing, back when they were doing it. All shared a distinction: They had proven far less capable of grasping basic truths in the heart of the U.S. financial system than a one-eyed money manager with Asperger's syndrome. — Michael Lewis