Goldman Sachs . . . again

Goldman Sachs former partner “Steven Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary . . . .”. – NYT, Nov. 30, 2016.

Here’s a memory jogger about Goldman Sachs from 2012.

“THE WALL STREET TATTLER” – Gordon C. Stewart — March 15, 2012
How could he do this? Is Greg Smith a tattler? Or, perhaps, Judas?

How could one of Wall Street’s own go to the New York Times (“Why I am leaving Goldman Sachs”) to publicly denounce the company’s culture? “He just took a howitzer and blew the entire firm away,” said Larry Doyle of Greenwich Investment Management.“ (“Wall Street Exec Quits with Public Broadside“).

According to the LA Times article, Goldman Sachs’ CEO Lloyd Blankfein suggests that Mr. Smith – Goldman’s executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.- is a “disgruntled employee.” William Cohan, author of Money and Power: How Goldman Sachs Came to Rule the World, says that “there are lots of disgruntled people who leave Wall Street, and they don’t do this” (i.e. open their mouths.) “What I’m hearing (on Wall Street),” said Cohan, “is sour grapes. You just pigged out at the trough for 12 years and you don’t have enough sense to keep your mouth shut.” (underlining mine)

Keeping one’s mouth shut is the name of the game on Wall Street.

Conscience may have its place so long as you keep it to yourself. You can have a conscience on Wall Street, just don’t exercise it. You’re part of an elite gang. Whether on the Street corners of impoverished neighborhoods like Watts in LA and Bedford-Styvesant in NYC, or in the center of crony capitalism that is Wall Street, gang members don’t rat on other gang members. If you don’t like it, swallow hard and keep your mouth shut.

Goldman’s rebuttal to Mr. Smith’s statement -“It makes me ill how callously people talk about ripping off their clients,” referring to their own clients as Muppets – hardly has the ring of strong denial. “We disagree with the views expressed, which we don’t think reflect the way we run our business.”

Hmmm. “…don’t think…”? Why not “don’t”?

It’s a rare thing for a spokesperson for a corporation with the best legal counsel in the world to say anything than a flat-out denial. “We don’t think” sets up the issue as a matter of perception, not fact. It’s Goldman’s perceptions of itself versus Mr. Smith’s disgruntled perception.

Mr. Smith’s refusal to live by the Wall Street gang code of conduct will lead to a barrage of attacks on his character calculated to divert the public’s attention from an institution that eats people’s investments and life savings to the Judas who is without integrity.

Goldman understands that for most of us the world is personal, not institutional. We don’t like tattlers and turn-coats, disgruntled employees who never learned the lesson of kindergarten that you never tattle on your friends. You don’t go running home to tell momma. Part of the code of the playground is not to tell.

What’s even more unusual in this case is that Greg Smith dealt in derivatives. Remember them? Derivatives – a complicated form of financial market gambling so convoluted that even the people who manage them can’t explain how they work – were at the center of the Wall Street meltdown in 2008. They were legal then. They are legal now. Goldman Sachs and the rest of the Wall Street gang of crony capitalism are still calling the shots with the highest paid Washington lobbyists money can buy.

Greg Smith is a Wall Street Judas who betrayed his gang not with a kiss but with a howitzer.

How could he do this? Why didn’t the guy who ate at the pig trough for 12 years just kiss and say good-bye? Why did he make his money and then break the code? Unless…unless…unlike so many of those who were taught not to tattle, Greg Smith couldn’t live with himself and decided not to run home to tell momma but to run to the New York Times. He’ll never again be allowed on the playground.

POSTSCRIPT, November 30, 2016: So much for the howitzer. Like Jimmy Stewart in “Mr. Smith Goes to Washington” in 1939, Greg Smith was a hero. Donald Trump is no Mr. Smith. So much for “draining the swamp.”

  • Gordon C. Stewart, Chaska, MN, November 30, 2016.

 

POTUS-Elect: chances are . . .

It’s been a week since our last post here. Why? Because, after waiting for signs that the POTUS-elect is more mature and more responsible than we’d seen on the campaign trail, the sense of shock has not abated. It increases daily with tweets that read like they come from a junior high school student or a psych ward.

On the heels of tweets stating the reason he didn’t win the popular vote was that 3,000,000 people voted illegally, Tom Toles of the Washington Post hit the nail on the head when he generously put it this way:

“But nevertheless, that’s [President-elect] what he is, and because he is still willing to make such baseless and damaging assertions about the actual electoral apparatus of our democracy, by blaming the voters themselves, it’s pretty clear that he is simply an irresponsible person, in the worst possible place for such a person to be.” – “Trump Just proved he’s a pathological liar. Which is worse: The  lying or the pathology?”

Chances are Toles is right. I’m sorry to post this. But we owe it to readers something of which the POTUS-elect repeatedly confirms he is incapable: straight-talk, honesty, sanity, and adult responsibility.

  • Gordon C. Stewart, Chaska, MN, November 28, 2016.

Scorched and Torched

While global warming accelerates and the rest of the world takes responsible action, we in the USA have decided to fire up the coal to warm ourselves to death.

The Paris Agreement on climate change is toast. It was scorched November 8 by election of a climate change denier who declared global warming was a hoax. Green is about to be torched and scorched into orange.

scorched-earth

“Scorched Earth” – Margo Talbot, All That Glitters

Thanks to “The Daily Post” for the invitation to write a piece on the word ‘scorched‘. Lots of us are feeling scorched these days. it’s the first time in my life when orange made me feel blue.

Kyrie eleison.

  • Gordon C. Stewart, Chaska, MN, Nov. 20, 2016.

THE EPITOME OF OSTENTATIOUS

os·ten·ta·tious adjective:  Characterized by vulgar or pretentious display; designed to impress or attract notice. Synonyms:  Showy, pretentious, conspicuous, flamboyant, gaudy, brash, vulgar, loud…

Source: THE EPITOME OF OSTENTATIOUS

Peace and Hope after the Election

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El Greco‘s “Pantocrator – Christ” feeds my anxious soul in a way words do not this Sunday after the American national election.

Christ’s eyes are knowing, sorrowful yet composed, searching deep within me. The right hand offers the blessing of peace while the left hand rests gently on the globe, the assurance that he is still the pantocrator (“all-ruler”) whose reign, though hidden, is trustworthy and real.

We republish El Greco‘s “Pantocrator – Christ” with thanks to the Vanderbilt Divinity School Library with the following attribution:

Greco, 1541?-1614. Pantocrator – Christ, from Art in the Christian Tradition, a project of the Vanderbilt Divinity Library, Nashville, TN. http://diglib.library.vanderbilt.edu/act-imagelink.pl?RC=48051 [retrieved November 13, 2016]. Original source: http://www.yorckproject.de.

I didn’t attend worship this morning. I didn’t want any more words. I stayed home with El Greco and a brief word from Isaiah (Is. 65:19).

  • Gordon C. Stewart, Chaska, MN, November 13, 2016.

An American in a Strange Land

The title of Jim Yardley’s essay in the latest New York Times Magazine –“An American in a Strange Land“–reminds me of William Stringfellow’s book An Ethic for Christians and Other Aliens in a Strange Land and the biblical roots of “the strange land” metaphor. But the longer I pondered Yardley’s montage of American life, my heart went back to Jesus’s familiar, albeit misunderstood, invitation to the weary.

“Come to me, all you that are weary and are carrying heavy burdens, and I will give you rest. Take my yoke upon you, and learn from me; for I am gentle and humble in heart, and you will find rest for your souls. For my yoke is easy, and my burden is light.”
[Gospel of Matthew 11:28-29 NRSV].

On his month-long trip across America in search of answers to what had changed during his 10 year absence, Yardley pieced together the vastly different experiences he encountered into a montage that cries out for further explanation. The montage includes the residents of El Paso, Texas, no more than a long baseball throw across the border from Ciudad Juárez, who disdain Donald Trump’s claims about the border.

Jesus’s invitation is offered to the anxious. The church gets that. Trump gets that. They know we are anxious. Anxiety fills the pews and packs the rallies. Anxiety sends folks running to the gun shops and to the offices of the very same government whose existence they decry for permits to conceal-and-carry or for open carry licenses. Anxiety feeds on itself until the size of it no longer fits within the small confines of a king size bed. Few of us in America fit well in our beds these days.

Churches, gun shops, and politicians who thrive on feeding this frenzy sometimes appeal to Jesus’s call to the weary faithful, ignorant of the specific audience to which Jesus invitation was issued—laborers! The “weary” were the landless poor, ploughing the fields the landowner’s field, driven cruelly like an ox-teams (the word “you” is plural) whose yoke chafes and hurts. Their yoke is anything but “easy”; it is ill-fitting. It chafes. It hurts. The landowner’s yoke allows no rest.The burdens are “heavy” (crushing). ‘They are “heavy-laden.”

“Come to me…for my yoke is easy and my burden is light.”

Placed in its First Century context, it is an invitation to what many now describe as the underclass. Its audience is not the middle class, and certainly not the upper class. The invitation is issued to the working poor of a top-down economic system that offered cushions to landowners and yokes for everyone else.

In Jesus’s time the line between the landless poor and the wealthy landowners was more obvious perhaps. You were either in the field, so to speak, or you owned the field managers who managed the laborers. But, as I’ve pondered Yardley’s article about the America that strikes him as strangely different, and as I ponder my own anxiety, it strikes me that most of us share a common sense of having become dispossessed.

The pace of change and the nature of change leave us in a state of conscious, subconscious, and unconscious turmoil. The anxiety that is intrinsic to the human condition – we are mortals who die no matter how hard we fight against death —quickly turns in one of two directions. Both directions spiritualize what was not an individual invitation to block out the world’s realities. In the one, we sweep aside its political-economic reference point (the collective ‘you’) and use it to anesthetize ourselves against the unsettling social realities of our time. No one appreciates that more than the one-percent who own the land. In the other, sharing the misappropriation of Jesus’s words as spiritual only, we run to the gun shops and the politicians who feed the frenzy, hoping to defend and secure ourselves against the coming calamity of an Armageddon bought on by our own government’s “rigged electoral system” that favors Muslims, Mexicans, and LBGTQ over Christians, Euro whites, and heterosexuals.

Reading Jim Yardley’s article days before the 2016 election, I realize how anxious and irritable I have become. I’ll go to church this morning hoping for a word that sends me home with a less anxious heart and mind but that also charges to take sides with the landless poor. Our numbers are growing in America. The greatest irony of all is that a billionaire businessman who doesn’t pay federal taxes, views women as “bitches” in heat, exploits cheap foreign labor, out-sources jobs to the countries he decries as America’s cheating enemies, and has Hitler’s speeches in his bedroom is drawing the landless poor to the voting booth of the democracy he says is fake.

“Come to me, all you that are weary and are carrying heavy burdens, and I will give you rest. Take my yoke upon you, and learn from me; for I am gentle and humble in heart, and you will find rest for your souls.Take my yoke upon. For my yoke is easy and my burden is light.”

I’m trying, as best I know how, to dismantle the old yoke and the old yoke system and to replace it with the more easy, gentle yoke that better fits us all. In the meantime, we all are foreigners and strangers in a strange land.

-Gordon C. Stewart, Chaska, MN 55318

Now (regretfully) I Know

Exhausted by the 2016 election, and knowing that undecided voters are few and are unlikely to be persuaded by anything I might say, I nevertheless decided to speak up one last time here. There’s a knot in my stomach. Silence only makes it worse. Silence – even for a day – would contribute to evils I’ve long deplored.

From the time I became conscious of the world, I have asked how Hitler could rise to power.

Now I know.

A child of World War II, I have learned that the questions are more important than the answers, and that sometimes the answers don’t come. Yet, as I look back on my life story, the question was not about Hitler. It was about the German people who elected him.

It still is. But this year, it’s not about the Germans. It’s about us, the Americans.

I’ve spent a lifetime living in the shadow of Adolf Hitler and the societal madness that elected him, determined from very early in life to oppose the darkness, the terror, the long shadow of Dachau, Buchenwald, and Auschwitz. Of nationalism, militarism, Arian racial superiority, global imperialism, and the startling echoes that still ring out from the gas chambers and gallows of the same society that bequeathed the world with the high culture of Bach, Beethoven, Mozart, Schopenhauer, Hegel, and Thomas Mann. How, I have asked myself forever, could this have happened? I’ve looked inside myself and wondered what I might have felt and done during the rise of the German Third Reich.

Now I know.

The question is no longer hypothetical. No longer abstract. No longer just philosophical, psychological, or sociological. It’s immediate and practical. It’s staring me in the face every day as I watch the crowds clapping for a presidential candidate whose name is on everything he’s ever touched as a businessman and who has made it his business to put his hands where they have not been welcome.

The crowds that support Donald Trump are drawn by an irresistible force to make America great again. In Germany it was the same. It’s a page out of Hitler’s playbook, but the differences between the United States in 2016 and Germany in 1930s are strikingly different. Germany had been defeated in World War I. America was victorious. Its economy was in shambles. Ours is the envy of the world. Germany’s post-war sovereignty was limited.Ours is not. The German people perceived the Weimar Republic as weak, powerless, and ineffective, a refrain echoed in the American far right’s cacophonous contradictions that charge the Obama Administration with too much power in domestic policies, on the one hand, and weakness against international terrorism.

During the 1920s and early ‘30s, the people of Bach, Beethoven, Mozart and Hegel felt humiliated, their national pride had been assaulted. But. . . assaulted by whom?

Jews, gypsies, and homosexuals became the scapegoats against which the pure Germans could define themselves and make Germany great again. Today in America Muslims, Mexicans, and LGBTQ have become the equivalent scapegoats of the Donald Trump campaign, and a copy of Hitler’s speeches is in the Trump master bedroom.

If the German people were drawn like iron to a magnet by a charismatic personality who gave singular voice to their grief and anger, it was not the last time a nation would go down that road to fascist madness. It begins as a kind of love affair. Looking into the human psyche, Schopenhauer (1788 – 1860) wrote:

The ultimate aim of all love affairs … is more important than all other aims in man’s life; and therefore it is quite worthy of the profound seriousness with which everyone pursues it. What is decided by it is nothing less than the composition of the next generation …. (The World as Will and Representation, Supplements to the Fourth Book).

The next generation and generations to come are at stake in the U.S.A. on November 8, 2016.

As every American president has said, “May God bless the United States of America.” I add, and may God save us all from the worst in ourselves.

  • Gordon C. Stewart, Chaska, MN, November 5, 2016

Walter Brueggemann on Idolatry

Walter Brueggemann is one of the world’s great Biblical scholars. Consider Election Day as you listen.

 

  • Gordon C. Stewart, Chaska, MN 55318

 

 

A Leg up on the FBI

It happened on Block Island, RI years ago on the driveway of William (“Bill”) Stringfellow and Anthony Towne’s home, the temporary home of fugitive war protester Father Daniel Berrigan, S.J.ap_7307250162_271648b88100da8bfbf05ff0fe92116d-nbcnews-ux-2880-1000

As the FBI loaded Dan into the back  of the squad car, Marmaduke, the canine member of the household, walked to the passenger side of the vehicle, and – as if on behalf of Bill and Anthony and all things just – lifted his left leg on the front passenger side tire.

“It was,” said Bill, a theologian as well as Father Berrigan’s lawyer, “an act of God.”

maxresdefaultNoting the FBI Director’s selective decisions that may affect the outcome of the 2016 national election, I lift my glass to Mamaduke, the latter day biblical prophet, for getting a leg up on the FBI.

`- Gordon C. Stewart, Chaska, MN, November 3, 2016

If the Answer is “Yes.”

Fourth Presbyterian Church-Chicago Pastor Emeritus John Buchanan stood with other worshipers to applaud Shannon Kershner’s sermon calling for people to stand with the widow in this election year. The sermon “The Persistent God” was posted here yesterday.

Family of John M. Buchanan's avatarHold to the Good

I have resisted the temptation to weigh in more than I already have on the Donald Trump phenomenon because we are saturated. Television news and the newspapers can’t keep their eyes off of him and I confess that I watch the 7:00 a.m. news because I don’t want to miss the latest outlandish thing he has said or done. I am changing my mind about writing because I heard a superb sermon yesterday by the Rev. Shannon J. Kershner, at the Fourth Presbyterian Church of Chicago. Shannon skillfully inverted the traditional interpretation of Jesus’ parable of the persistent widow and unresponsive judge who finally gives the widow the justice she is pleading for simply to make her stop asking and go away. Shannon said that maybe God is not the judge here. We are the judge. God is speaking through the widow, persistently urging and pleading to us for justice…

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