Comments: Cleaning Up After Bailouts

I wonder if it's more a matter of the sandbags still just sitting there the way they were delivered (possibly by the mooching and looting government bodies?), rather than that being intended as the final product? Not that it makes much difference to your point. They either look stupid, lazy or indifferent, or any permutation of those three.

Posted by Tim at October 31, 2012 2:26 PM

Not quite sure what's going on here. Some of these bags appear to be gravel.

Posted by ErgoDan at October 31, 2012 6:06 PM

I think they were creating bulwarks to shoot from in the event victims of the storm got out of control and tried to seek refuge within their walls. Just my guess.

Posted by knowdoubt at November 1, 2012 7:33 AM

No, no, no. When the water arrived they were going to pitch baked financial statements into the gaps.

Posted by lless at November 1, 2012 8:15 PM

- lot of work on nothing. Several pictures show the lobby protected by a typical ramp of sandbags (gravel bags interleaved, sometimes laid vertically, as I understand the style). This is just the way they were delivered. Goldman may not boast the smartest guys in the room anymore but they are not dumb enough to leave the sandbags on the pallet. Now if you had told me the bags had been shoveled full of nickels by mortgagees working under straw bosses for a chance to avoid foreclosure by spinning a wheel of fortune while senior brokers humped their wives over behind a haystack, I would have been amused. I hate those bastards as much as anybody and would happily have set them on fire while they drowned, but they can't be blamed for this foolishness. Refrain from such FOX- quality dopery.

Ice

Posted by Ice nine at November 3, 2012 9:46 AM

Dunno, Ice. They could be dumb enough. There's room for a lot of metaphorical action here. These are guys who built a structure of sand supported by air when they put derivatives under unstable mortgages (if I understand the mortgage bubble correctly). And then there's the strong possibility (getting back to the nonmetaphorical) that a bunch of MBAs, junk security salesmen, quants and stock gamblers wouldn't have enough common sense to tell a sieve from a dike. Take the sandbags off the pallets they were delivered on and build a real wall, what's that all about? That's below my pay grade, muffet work. Got no time to even look at that crap on the sidewalk. Let me in, I've got jobs to create!

Posted by Aitch Jay at November 3, 2012 10:54 AM

Actually the banksters finally did get their shit together:

http://nymag.com/daily/intel/2012/11/goldman-has-the-power.html

Probably hired some union labor.

Posted by Sociopat at November 3, 2012 1:05 PM

Imagine for a moment that you are a person, perhaps working in the lower echelons of the financial industry in NYC in 2008; then, due to the crisis, your firm gets reamed, the worker bees are the ones who pay, and you are now out of a job. It takes you two years to get back into the workforce, and when you finally do, it is back to hard manual or unskilled labor; let's say, a loading/hauling/delivery job. Every time you drive your truck across the Brooklyn Bridge, you curse the assholes with their feet up on their desks in those gleaming towers.

Then, Sandy hits, and you get orders to deliver sandbags to Goldman.

Accordingly, you make the delivery to Goldman headquarters, and get your bill of lading signed by a low-level property manager/facilities type. The Goldman people are all getting ready for the big storm, running around. No one has time to talk to you, but no matter: you've got your job done. No time, and really, no need, to mention to anyone that the material is on pallets; it's always on pallets.

Back across the geometrically perfect and satisfying Bridge, with gleaming glass towers in your rearview mirrors, whistling a particularly merry bit of Rodgers & Hammerstein.

Posted by at November 4, 2012 12:41 AM
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