AUTHOR: Representative Jan Schakowsky (D-IL) in the Huffington Post
LENGTH: 800 words
THESIS: I stood up to Goldman Sachs. It was epic.
WHAT SHE DID FIRST: Write a letter to "urge Goldman Sachs to repay taxpayers the $12.9 billion it received from them through AIG"
WHAT MUST HAVE REALLY STUNG: "The letter was signed 'Sincerely' and I let them know just how sincerely I felt about it"
WHAT AMERICAN TAXPAYERS ARE: "generous"
WHAT GOLDMAN EMPLOYEES ARE: "aliens"
WHOM SHE SIDES WITH: the former
GOLDMAN'S BOLD NEXT MOVE: Come to her and explain their position
AND THEN WHAT HAPPENED? "That's when I asked them exactly which planet they were in fact from"
WHEN THEY TALKED ABOUT MARKETS: "I resisted genuflecting"
WHY THEY COULDN'T STOP HER: "I was furious and on a roll"
WHERE THEY'RE FROM: "another planet"
WHO THEY ARE: "smarty pants"
WHAT SHE'S GOING TO DO ABOUT IT: Meet with them again
THE FINAL WORD:
By then I was furious and on a roll. "You are looking at one of the 57 members who voted against the repeal of Glass-Stiegel in 1999." That was the depression-era law that actually prevented financial institutions from becoming too big to fail by creating a firewall between the banking, insurance, and securities businesses. "And I am all for reinstating it, and I am from the school of, 'If you're too big to fail, then you're too big,' and besides all that, I am so far away from you in my thinking that your words barely compute, and from where I sit, you simply don't get it, and how stupid (yes I said the "s" word) can you be to think that any normal person can relate to "average" salaries for Goldman Sachs employees of $770,000 much less $21 billion in "accrued" bonuses," I sputtered as the bells rang in my office indicating a vote on the House floor ... My only regret was that I didn't know at the time that Goldman Sachs had gotten for itself and its priceless geniuses H1N1 vaccines that lots of at-risk children are still waiting in line for. That would have been good to mention as I dashed out the door.
This article is from the archive of our partner The Wire.
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