In the middle '50s I became very concerned about Goldman Sachs' survival. Sidney Weinberg, our senior partner, was an extremely capable, wonderful banker, well connected with everybody, a vice chairman of the War Production Board during World War Ⅱ. Every piece of business we did was through his contacts. He was beginning to get old, and I was worried that when he died or retired, we wouldn't have any business to work on. The system of getting new business was the same all through Wall Street. Bobbie Lehman at Lehman Brothers, Perry Hall at Morgan Stanley — they sat in their offices and waited for people to call them; they didn't solicit business.
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