Dr. Robert Litterman was embarrassed and left with a crimson face after Senator John Kennedy made him flinch during a hearing on Friday.
Heavyweight on Wall Street Jack Litterman worked for Goldman Sachs for 20 years. He has taken on the daunting task of pressuring America to take action against climate change despite his reputation as a “elitist.” Yet, when questioned about prospective costs or China’s commitment to tackling this global issue, his knowledge looked to be rather inadequate.
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Kennedy asked, “How much would it cost to make the United States of America carbon neutral by 2050?”
Litterman’s response was: “I don’t know.”
Kennedy asked, “So you’re advocating these things but you don’t know the cost?”
“Yes, absolutely. I certainly don’t know the ultimate cost and it’s very uncertain,” Litterman responded.
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Since his arrival on Capitol Hill in 2017, Senator John Neely Kennedy, a proud citizen of Louisiana, has gained widespread recognition in the legal and political spheres. His dedication to serving the people and his meticulousness have greatly advanced both parties’ interests across our wonderful country.
Robert Bruce Litterman, a pioneer in the field of quantitative finance and risk management, has had an extraordinary career. Born in 1951, he earned his PhD from the University of Minnesota in 1980 before joining Wall Street titan Goldman Sachs. At GSAM for 11 years starting 1998 as head of their Quantitative Resource Group, then heading up their firm-wide Risk Department – Mr. Litterman finally moved to Kepos Capital where he is now Chairman on its very own Risk Committee. A remarkable man indeed!
