April 19, 2024

From Christine Quinn, a Memoir More Personal Than Political

In college, schoolwork was not a priority. “I didn’t really care about the classes,” Ms. Quinn writes, adding, “I am also an unbelievably slow reader, who has to read things a couple of times to digest them.”

And she offers this frank assessment of her physique, courtesy of her gruff but caring father, Lawrence Quinn: “You’re big-boned. You would have been good back in Ireland in the fields flipping sheep.”

In an affecting but carefully assembled 240-page memoir, Ms. Quinn, the City Council speaker and a Democrat, offers a breezy, confessional and sometimes opaque look at her transformation from middle-class Long Island daughter to front-runner for mayor of New York City.

She recounts being called a homophobic slur in middle school and feeling too “frightened and upset” to tell her family. She discusses the guilt she still carries from her teenage years, when her mother died of cancer. “I have not totally gotten over the sense that when things are going bad, it’s my fault and mine alone,” she writes.

But Ms. Quinn’s candor about her personal life is as notable as her vagueness about politics. There is not a single reference to the slush-fund scandal that has been her lowest point as speaker. She says little about her relationship with Mayor Michael R. Bloomberg, whom she calls “my colleague.” The battle over term limits is disposed of in two pages, while thousands of words are devoted to her wedding last year.

The memoir, titled “With Patience and Fortitude,” after the twin marble lions at the New York Public Library on Fifth Avenue, is to be released in June, three months before the Democratic primary for mayor; a copy was obtained by The New York Times. A common accouterment of high-profile political campaigns, the book is a sign of the national interest Ms. Quinn has attracted — and some rivals have begrudged — as she vies to become the city’s first female and first openly gay mayor.

Ms. Quinn, who wrote the memoir with Eric Marcus, whose other credits include an autobiography of Greg Louganis, had to juggle finishing the manuscript with her responsibilities as Council speaker and mayoral candidate. The book, a slim hardcover with a larger-than-average font, is being released a month later than first announced.

Flashes of Ms. Quinn’s humor appear throughout. She cites “Downton Abbey” to describe her grandmother’s work as a maidservant. Running a political campaign meant keeping “a zillion balls in the air at once.” When she began dating her future wife, Kim M. Catullo, she notes: “Things with Kim moved crazy fast. It was like the old joke: What do lesbians bring on a second date? A U-Haul.”

Still, much of the prose can be flat and unadorned, and some passages offer curiously little insight. On why she chose a career in government: “I really like being with people and doing things with them, and it has always made me feel good to get things done.”

On the therapeutic benefits of horseback riding, which Ms. Quinn describes as “the activity that sustained me” as a teenager: “If you have ever looked into the eyes of a horse, you know what I mean. Sadness and kindness flow from them.”

Ms. Quinn does not discuss why, as speaker, she supported overturning the term-limits law and allowing Mr. Bloomberg to run for re-election in 2009. “I struggled to balance what was best for him, for the city, for the City Council and for me personally,” she writes. The experience “was tough, but on reflection I have no regrets about my decision.”

The book is more revealing when it comes to Ms. Quinn’s relatives, many of them immigrants who arrived poor in New York City from Ireland and later struggled with alcoholism. She recalls an early lesson in gun control from her grandmother, who confiscated pistols from their relatives in the Police Department at family gatherings. “At the end of the evening,” Ms. Quinn writes, “she would decide who was sober enough to get their gun back.”

She writes with frankness and empathy about her father’s reticence and the pain of her mother’s cancer. “Just thinking about all her sorrows makes me sad for her,” Ms. Quinn writes. “I really doubt I would have become the first woman — or the first L.G.B.T. person — to be elected speaker if I hadn’t been driven by a leftover sense of guilt and responsibility for my mother’s illnesses and absences.”

Article source: http://www.nytimes.com/2013/05/31/nyregion/from-christine-quinn-a-memoir-more-personal-than-political.html?partner=rss&emc=rss

DealBook: Deutsche Bank Chiefs Outline Overhaul Plan

Jürgen Fitschen, left, and Anshu Jain, the co-chief executives of Deutsche Bank, spoke in Frankfurt on Tuesday.Daniel Roland/Agence France-Presse — Getty ImagesJürgen Fitschen, left, and Anshu Jain, the co-chief executives of Deutsche Bank, spoke in Frankfurt on Tuesday.

The new chief executives of Deutsche Bank acknowledged on Tuesday that the bank was weighed down by relatively weak capital reserves, excessive dependence on investment banking and a tarnished reputation as they announced an overhaul to address these flaws.

Three months after taking over from Josef Ackermann, the bank’s longtime chief executive, Jürgen Fitschen and Anshu Jain, who are sharing the top job, moved to put their mark on the largest German bank.

They presented an unusually frank assessment of Deutsche Bank’s shortcomings and promised to take remedial steps, including delaying bonuses for top managers.

They also said the bank planned to cut costs by 4.5 billion euros ($5.8 billion) a year by 2015.

“Tremendous mistakes have been made,” Mr. Jain said at a news conference in Frankfurt. “We can see times have changed and we need to change and change rapidly.”

The presentation came a day before the European Commission was scheduled to present a proposal for a banking union that would shift supervision of institutions like Deutsche Bank from German regulators to the European Central Bank.

The plan presented by Mr. Jain and Mr. Fitschen on Tuesday was partly a response to the pressure banks were experiencing from tougher regulations, as well as from investigations into manipulation of money-market rates and other wrongdoing.

Mr. Jain and Mr. Fitschen vowed to push through a change in Deutsche Bank culture that would include tougher sanctions for wrongdoing. “We’re in an industry where a small group of people can do irreparable damage,” Mr. Jain said. “We will not stand by and let that happen.”

Deutsche Bank is among the banks accused of manipulating the London interbank offered rate, or Libor, which is used to set rates on trillions of dollars of financial contracts.

Mr. Jain said the bank was taking the investigation into Libor rate-fixing very seriously, but repeated previous assertions that any wrongdoing was the work of a small group of people and that no members of the management board were implicated.

Mr. Jain, former chief of Deutsche Bank’s investment bank, said the business was simply not as profitable as it once was and that highly paid employees would have to accept more modest compensation.

The top 150 managers are to receive no bonuses at all for five years, he said, to encourage them to avoid taking excessive risks in the name of short-term gains. They would lose their bonuses if profits fell or they committed wrongdoing.

Addressing a common criticism of the bank, Mr. Jain said that Deutsche Bank’s capital reserves, while within regulatory limits, were lower than those of competitors. He vowed to raise the buffers to the same level as rivals by early next year and significantly higher by 2015.

The banking industry has shrunk since the beginning of the financial crisis and will shrink further, Mr. Fitschen said, requiring Deutsche Bank to cut costs and reduce the amount of money it has at risk. The bank had previously announced the elimination of 900 jobs, mostly in investment banking. On Tuesday the bank said it would set up a unit for noncore assets that would be sold.

Mr. Jain said that, while he was convinced the euro would survive, the economy in the euro zone was likely to grow slowly in the next several years. The bank will seek growth in Asia and the United States, he said.

Mr. Fitschen added: “We can’t deny that in the course of the crisis margins have fallen and funding has become more expensive. That demands answers on our part that sometimes will be painful.”

Article source: http://dealbook.nytimes.com/2012/09/11/deutsche-bank-chiefs-outline-overhaul/?partner=rss&emc=rss