laws allow the banks to take the ownership position in dana-farber the buyback right to to take the farm back of the full title. >> good evening. i hope you enjoy our new even space. i am the owner of the strand. it was started by my grandfather in 1927 and has

been around three generations of my family. [applause] contrary to this so called expert says save a mis-selling candle in the ipad will wipe out the bookstore we believe people do not one to sit upon tethered to the gadgets although . [laughter] we are planning to serve the book community for a long long time. tonight i am thrilled to welcome back nomi prins to the launch of her first historical novel, it "black tuesday" this is the second time she has been at the strand and she says she only signs that independent bookstores. [applause] so with the mounting frustration with wall street and the recession this novel

and topic is extremely timely. a special think you to live think-tank that sponsors this event located here in new york city, dmos. [applause] >> we have that add up at the panel here tonight including matt tae ab who will talk about the current financial climate. the character driven book that is on the cusp of the great stock market crash of 1929 of one of the most fascinating historical all kinds and and at nomi prins left the lucrative career at

goldman sachs and bear stearns it to great three nonfiction books exposing fraud and deception from wall street to washington. her first novel, a betrayal is a thriller set in the corrupt banking world. also of senior fellow at dmos and a commentator on pbs, fox, msnbc.com is cnbc, cnn and other media outlets. match is a contributing editor "rolling stone" and writes about politics and finance. in one article the famously described goldman sachs as a great vampire squid wrapped around the face of humanity relentlessly jimmy its blood funnel into anything that smells like monday. [laughter] [applause] he has authored five books

many of which we have here including "the new york times" best seller in recently became a contributor for the countdown with keith overmanned. rich is the end -- author end -- author -- . [applause] which was the winner of good 2009 editor's choice award for herb book list with the american library association. he regularly appears including npr, msnbc.com c-span's, "usa today" and is a contributing producer of short documentary is for air time to come in partnership with the cnn and a senior fellow at dmos. so for the format you have a

conversation then open up the microphone to your questions there is the big crowd if you don't mind standing up but i will hand you the microphone so everybody can hear you and if the authors will stick around to sign copies of their book. special thanks to c-span for filming tonight and for the work they do to inspire and educate us. [applause] please join me to welcome some of america's great contemporary whistle-blowers, the advocates of financial reform, at nomi prins and her panelists here at the strand. [applause] >> my name is rich and i'm a senior fellow at dmos i would like to welcome you to make this event possible and i want to thank strand such

a beloved institution and for us here in new york and to thing dmos azria seidman chin is a multi issue think tank with three overarching goal is. the first of which is a more at equitable and prosperous economy. second, the democracy where more of us participate. the third, the public sector working for the common good. time when to offer a different angle to introduce our other panelist. i got this e-mail in july that said i have written a novel called "black tuesday." right here and i am thinking tell me of but about african-americans and tuesday. let me clarify. [laughter] it is referring to the stock market crash of 1929 and immediately i could see the timeliness of the topic. all the zero nomi could

write a book called african-american tuesday. she is a dogged comic incisive, elegant voice for progressive values and i am so honored to introduce her. what you may not know and which was alluded to before, nomi was part of the 1% before she joined the 99%. [laughter] she was from wall street and not only that, a managing director at goldman sachs which is such an achievement in of itself in terms of billions but now based out of los angeles writing full-time and i want to show you her novel because that is a wonderful trajectory of her thinking and her career. but first-come other people's money, second, how conservatives pick your pocket with the vote for

them are not. the third, it takes a pillage. she is also the queen of titles. you can learn more about her at its nomi prins.com and i introduced her with a great deal of pride and affection and we miss her here on the right. [laughter] nomi prins. [applause] matt is a bit seven underachiever and a boring writer. [laughter] but seriously, he is a regular contributor for "rolling stone" and he has made such a name too really exposing the underbelly in the dark side of our finance was a tuitions you read the

beautiful quote that he had to say about her former employer, goldman sachs and i will briefly read from his blog today. you can find him at his "rolling stone" blog when he is not on countdown "when nobody is comfortable with the movement in which virtually the entire spectrum of the class of four americans is on the same page ruling against incestuous corruption on wall street but the reality is occupy wall street in the middle of millions americans make up the tea party are natural allies and should be on the same page of most of the key issues that is a story that our media will not want you to know." >> i have a gripe to pick with match. i published the book in 2009.

in 2010 come mehmet released his book. [laughter] also please welcome him and we are delighted to have real teeth five so let's just began and jump right in. we will have a conversation then open up two questions. >> thank you for the introduction and also to nancy bass, strand, dmos, lower east side tenement where i spent a lot of time doing research for the book also grandfather the two years before the time this book has placed starting with the bookstore because a lot of business happened is gathered here two nights in

with respect to what is going on in the world and in particular newark, wall street, with respect to what is the uprising amongst people who are sick of the way things that are economically and wanted to be different not just talks but actually live differently. we well talk about that a lot tonight. but first-come i want to take you back 82 years to a period of time that it was both very different and very similar. let was part of my inspiration for coming up with the story for the buck that we talked about numbers but it is a novel that you cannot get the emotion behind that. of struggling of what you do not want to deal with and ultimately comes to you.

there's a lot of that in the book. least of all the main characters to see what she alternately does, a lot of this is a struggle and different situations. but to give a sense of what he went through hong both sides comment to represent that 99% and we will go from there. on the fifth floor in the apartment that she shares with four other people her aunt in her cousins. as you can imagine back in the 20s, having a conversation with her about

this idealism comedy activism that is happening among the workers and the people that she knows on that side and how she really feels about it. which is not sure. >> the silver streaks in her hair going down her back and fell to earth through restrict. going on with a labored flick of the rest enough with the source power things with you and the bell said? find. that's all? >> i don't know he always goes on about how miserable things are or fighting about some things in his brother was shot. i am afraid he will join the gangs again bryant tired of it. >> rose the nodded and swayed back and forth and her eyes closed as she was transported to the internal movie of her past.

of a good man with a loyal harper but should try to see where he is coming from. that made her feel inadequate issue cannot help but think of the morning spot which is a diner on wall street. did he have been a warm thurgood is? somehow he has burrowed into her heart. i know but that does not make him easier to deal with. >> remember what i told you? young and 14 not knowing english? >> yes. >> she raised herself for a speech she had heard many times before and it was her duty to listen but her heart wanted to believe she loved her and with that impose a burden. >> in order to succeed in america you have to find your purpose in helping those less fortunate than you. >> i know. that is when nelson does every day but i wish i did instead want to get out of

here. >> she stopped herself but rose understood exactly. sometimes you don't find your cause it was a smile, you're cause will find you. there is a little flighty and all of us. >> that is one of the messages of the book. not all the start of knowing anything about the direction of our life or how we may react in those particular situations. my start on wall street i was 19. i had no arabia what it was about. it took me many, many years to finally to get out to share it but you don't know the answers or to the right thing always sometimes you come upon the right thing in a really difficult way. one other seen i will read this. this is a scene where lila is working in the diner on wall street and said it is a

stingy little apartment, not very far away but millions of miles away in terms of the conversation and the money divide but is in secret of the wall street banker. lie letter arrives home to a glorious evening. like the swirls of the candy cane at the candy shop the breeze throughout the lower east side, lila was distracted with their thoughts but she circled her neighborhood several times before entering the building. her bra was stamped with a sledge. seven steps tallest in the neighborhood and they were laughing as they would chase the ball down the sidewalk. joshua would stop playing

baseball a few years ago but then his hair is now toss sold with his work sure rolled up, your sister is gaining on me about to take my title. >> is that all my talent means to? sorry. you all better watch out for her and do we have to stop now? i'm having my best run. >> of course, you don't. she hung onto the i.r.a. trailing. i have not seen your sister in wreaks. we will catch up. >> okay. so good to see you but i am late for dinner and rose will be waiting for me to help with a finnish chain

touches the man she does not need your help. please summit what is new. >> i need to come up with the better story or move on. it is tragic. >> lila could not suppress the wide grin. >> there is news? >> let's go over to the that part restore part of a walk to the buildings in went past the shoe store and the cigar shop and passed another set of kids playing hopscotch and playing stickball. after they sat down she blurted out the developments. are you kidding me? he is the morgan of the fresh of the richest man of the world and talks to you? >> that was part of what was going on at the time. there is a cynicism among a very small people that what went down on wall street

there is a stock market, many was made but it was pretty secretive and still is today but even more so than. but yet there was the adoration but it must be so amazing making money, whether they doing? what crazy things are going on down there? until the market crashed and things got really bad, there is not the notion of a connection between those things and how it impacted us stick ball game on the steps on orchard street. this is the background of one of the women i had interviewed here had an experienced during the great depression and is a little better every jolt the sister of the main character to say they did not have money and the ball was basically everybody's game. you throw the ball and catch and there are tournaments' for predefined stick and play stickball where as uptown on park avenue you have all of the latest

toys, fashions, everything. it is a tremendous difference and even more pronounced back then. but there is a cost that comes with that difference and the bankers that ultimately perpetuate don't always know what they are doing and herein lies the problem. but morgan partner, in real life there were 40 partners from a he was the 41st but has a lot of elements of the others. last seen i will read well probably take you into today all the bad. throughout the afternoon 1929, mortgages partner pass to go into a secret meeting at the stock exchange appear

imagine the triangle the stock exchange, the old war again bank which was the first one then federal hall as a triangle. in the middle of the day when the market was going crazy and crashing, there was seven notice given to the morgan bank how the rupiah's secret meeting asking about what to do. bankers said several days before that to pull their money together to save the market and they did for a little bit but then they plummeted again so now it is several-- later and they know everything they have basically created will come crumbling down so they're trying to decide what to do. it was told to the people who were coming over from morgan not to let anybody see them come over because that was inside a riot. imagine this is only

reported later, the meeting that was held was held in secret in go up to the back way of the exchange. that is the last place he wanted to be just like his uncle to stay away from the fray. from across the lobby the sequestered men yelling at them or vanguard, but not that way. out the back the two men exited the bank from the same steel doors, wants outside they had no choice but to barge through the crowds through the narrow stream of fortunately there are enough people but the task was still far from simple and just when they reach the back to guards told them to wait outside. they made just kill you. and adjusting that had to cover his eyes looking down

at the issues and marching up to him to punch him in the stomach. he doubled over in may you brought in how before he's been in his face and ran off. on that happy note, . [laughter] there was a lot of this real anger back then and we see that anger today but when i started writing this book, it was a story, the notion of a young girl who really did not know anything about any of this, not about bankers, wall street come of fighting, labor activists, wanting to grow up in america to have a dream that everybody talks about when they immigrated here and that was all. she comes upon some discoveries that she cannot ignore although she tries very hard to.

sometimes you ignore it until you can stand led to the duet that moment? likud the aggregate situation and the internal struggle to do that. so there is all of this stuff that we know that has closed on the economy by virtue of criminal activity. and letter a are saying now is no different. suggests leg jaime dimon is here is set of morgan been a worse way it is the impetus for learning from our past

the then to raise the good parts of what happened because not all of the bankers at this time got what they should have been of them are actually a try for securities fraud at the time. but they did have a situation where the country had to be protected. and the foundation the financial system has to be protected through the population this idea you cannot be doing fraudulent things that the crash the whole economy. and get away with it or continue doing that.

and then glass-steagall divided the banks cut back not all speculative activities which gave them protection that we don't have no. which is a sad lack of historical understanding of today's world. and to see a simple world and to figure out struggling between fate of family and a four you get a sense of how they are not that different we're not that different than may were from 82 years ago. [applause] >> i just want to say one

thing about matt the 40 stores responding, the piece about the vampire squid, i had so many calls about him. it what is to have some day calls about him that i reached out to we had become friends that i am sure you all due too. >> a couple of quick things i am really sorry for stealing your title. [laughter] i saw it and said that sounds catchy i will take that.

but to say how zero khoo it is but to appear at the strand i have been buying books from those bins since i was the staal and the nearly half of my books come from this store. is fiercely when it was downtown we would come there every week coming out with stacks. i am glad you all came out tonight. but to talk about nomi but, just to explain it into those to tell my story how i came to know her. of fidel 2008 with national american politics didn't know anything about

economics at all. the bill whole modus operandi a for the economy was to look at the stock market and inflation and and that was it. and most people don't understand anything else. those who covers politics for a living know nothing about economics. >> feedback? this is the buddy remembered drill, baby, drill speech mccain did summer 2008? i was covering the mccain campaign plane. i remember we ran the

louisiana and unveiling a new version of the speech. but then to talk about the surge of the gas prices if we would do in mexico then to make the gas price is go down. you give the speech they are in their own private prison which is the campaign plane and the reporter said what a jerk as if tilling in the gulf of mexico has anything to do why gas prices are going up. does anybody here know why gas prices are going up? it is a cartoon with the crickets. [laughter] literally nobody knew. i turned to another reporter who was sitting next to me. doesn't that make us a fraud? do come a are figuring that

out just now? [laughter] . .