Monday, August 13, 2007

In response to Rabbi Shmuley Boteach's opinion piece "So You Want to Be Rich?" regarding the evils of working for an investment bank, I sent him the following e-mail:

Rabbi Boteach,

My wife and I are big fans of your show, "Shalom in the Home" and we own several of your books regarding family life.

Having just read your article "So You Want to Be Rich" in the Jerusalem Post, I wanted to respond as someone who has worked in and around Investment Banking for almost 20 years, most of the time alongside the multi-millionaire bankers you feel so strongly about.

Firstly, I don't believe that anyone, regardless of their profession, can easily avoid the rarefied air of the wealthy that you describe if they are successful in their field. There are plenty of doctors and lawyers who spend the majority of their time in the exclusive boardrooms and country clubs of America, far away from family and "friends". The question becomes, "why do they all work so hard"? Is it merely for the accumulation of wealth and comfort? Could it be a fear of failure? What of those who never had a large or well-off family to support them, knowing that everyone relies on them, and them alone?

I am a Conservative Jew living in a large sunbelt city. If it were not for working a 55-60 hour a week job in Investment Banking, I'm not sure that I could afford a Jewish dayschool education for my two girls, membership in my shul, keeping a kosher kitchen, maintenance of an appropriate level of tzedakah, etc.

Please also do some research on the tzedakah given by some of the Investment Bankers you criticize. Millions have been donated to hospitals, universities, etc. to assist the doctors and lawyers who I think it fair to say, we both admire. In one of my recent positions, I helped to process the paperwork for many extremely generous donations to charitable organizations which in turn are chaired and managed by Wall Street's rich and famous.

We all do our part to the best of our abilities. With any luck, we remember where we came from and try help others to have the future they desire.

I realize that in your position as an opinion-maker that a strong viewpoint garners more attention, but please don't paint everyone in my industry with the same broad brush. Some of us are just trying to do what we feel is best for ourselves, our family, and our community.

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