Financial History Issue 126 (Summer 2018) | Page 5

TRUSTEES IN THIS ISSUE DEPARTMENTS Richard Sylla, Chairman New York University Andrea de Cholnoky, Vice Chair Golden Seeds Robert Muccilo, Treasurer Consolidated Edison 4 The Ticker Alvi Abuaf Capgemini The Museum extends its membership benefits for an additional year due to the flood in its building. Meanwhile, events programming continues off site. Gregory Bauer Moody’s Marcy Cohen ING Americas David J. Cowen, President/CEO Museum of American Finance Sanford Crystal 4 Message to Members Crystal & Company John P. Davidson III   By David Cowen, President and CEO OCC Adam Goldstein Vettery Martha Clark Goss 7 Financial History Trivia Quiz American Water Works Cory Gunderson Protiviti Robert Hotz 10 Educators’ Perspective Houlihan Lokey Bradford Hu In Defense of Capitalism Part 3: It’s Not All About Self-Interest Citi Alfred F. Hurley, Jr.   By Brian Grinder and Dan Cooper Emigrant Bank Carol Kaimowitz Retired Insurance Executive Myron Kandel 36 Book Review CNN Glenn Kaufman The Source: How Rivers Made America and America Remade its Rivers, by Martin Doyle Kaufman Family LLC Ranch Kimball Glorious Cahoots Capital Partners   Reviewed by Michael A. Martorelli Mitti Liebersohn Avison Young Consuelo Mack WealthTrack Joseph Mecane Citadel Securities Elizabeth O’Melia S&P Global Ratings Richard B. Payne, Jr. Financial Services Executive Verne O. Sedlacek Financial Services Executive ON THE COVER Karen Seitz Fusion Partners Mark Shenkman Kirk Kerkorian poses in front of his plane. See related article, page 20. Shenkman Capital Management, Inc. David L. Shuler itBit Maria Smith Smith Affiliated Capital (SAC) Saul Van Beurden JPMorgan Chase Charles Wait The Adirondack Trust Company John E. Herzog, Chairman and Trustee Emeritus Herzog & Co. www.MoAF.org  |  Summer 2018  |  FINANCIAL HISTORY  3