The Passing of My Dear Friend Barry Newman

On October 2, 2010 Barry Newman died along with my reason for keeping this Blog alive. Early this year Barry and I talked about ways that our conversations concerning the plight of the U. S. economy might be saved and how the banking industry could be reformed in the future to avoid the disastrous mistakes of the past ten years. Barry had been enduring the impairment of  a stroke that he incurred in the Autumn of 2009. His physical progression was not very promising and yet his powers of reasoning and verbal communication remained excellent.  Therefore, I assumed the role of scribe for our joint ideas and entries.

In the beginning Barry was able to contribute most of the cogent ideas as well as the tone of our comments. I would search the Web and papers for the topics and suggest how we might frame our thoughts. He suggested that we track the notions and comments of Paul Volcker as a framework for our direction because we both held him in high regard –  as a regulator and as an economist. Volcker needs no introduction here. During the 1980′s I had the privilege of serving on a select committee of the Federal Reserve in the aftermath of a small, but similar set of bank lending irregularities and near system collapse. This served as my alert on how the domino tilting of the interlocking bank credit systems can bring financial markets to a stand still.  Enough about the Newlind’s Blog — as Barry phrased it, “Wingtips on the Ground” – soldiers for Paul Volcker’s wisdom.

I first came to know Barry when within a short-time of each other we joined Great American Bank in San Diego in 1982, he as the chief and executive vice president of credit and lending and I as the head of a bank development subsidiary, later financial chief, and then bank president. Barry and I worked closely together and I always had the highest regard for his wisdom and integrity. Barry was a consummate business man and his thinking processes were exceptional. He carried with him many years of credit and banking experience along with an excellent legal mind and training. The San Diego Union obituary gives a fine recitation of his exceptional experience and commitment to serving the public interest as a board member and judge pro tem that carried his career forward after we ended our banking duties in 1990.

I had the privilege of sharing a professional office with Barry during the 1990′s and joint client assignments, some of which involved consultancy services to banks in Russia, the World Bank, USAID  furthered by related assignments in San Diego. My continued exposure to Barry’s thinking processes and critiques were invaluable as I continued my work in the former Soviet Union over a ten-year period, always within the cognizance of Barry’s interested and watchful eye.

During Barry’s hospitalization we used the Newlind’s Blog (Newman-Lindland) as the nexus for our wide-ranging conversations. Nearing the end, I was so very pleased every time he would prove to me that he wasn’t asleep by inserting a cogent word or thought to our text.  That is what I will alway remember of this powerful, concerned, and brilliant man — a mind that knew no limits. As one might expect, Barry devoured books with many new ones arriving throughout the year. His focus was mostly on literary, legal, and economic analysis along with the consequences of history and historic persons.

Barry, since this will find its way into the atmosphere surrounding our planet, perhaps you will reach out and learn of my lasting devotion as your friend. Jean and Suzanne, thank you for sharing this wonderful man with me as a colleague and friend.

Roger

Advertisement