CORONAVIRUS

MASON In our series ░░░░░░░░ the financial fallout from ░░░░░░░░ coronavirus we re looking ░░░░░░░░ the economic pain and ░░░░░░░░ to get America back ░░░░░░░░ work This graph shows ░░░░░░░░ how bad job losses ░░░░░░░░ compared to the last ░░░░░░░░ years It s expected ░░░░░░░░ get worse as layoffs ░░░░░░░░ Gary Cohn is President ░░░░░░░░ s tformer chief economic ░░░░░░░░ and director of the ░░░░░░░░ Economic Council He also ░░░░░░░░ as president and chief ░░░░░░░░ officer of Goldman Sachs ░░░░░░░░ during the last recession ░░░░░░░░ morning thank you for ░░░░░░░░ with us COHN Thanks ░░░░░░░░ having me Anthony MASON ░░░░░░░░ as you as we ░░░░░░░░ said the President wants ░░░░░░░░ get the country up ░░░░░░░░ going by the end ░░░░░░░░ the month Health experts ░░░░░░░░ of them are saying ░░░░░░░░ may be premature If ░░░░░░░░ were still running Goldman ░░░░░░░░ at this point would ░░░░░░░░ be comfortable sending your ░░░░░░░░ back in a couple ░░░░░░░░ weeks COHN You have ░░░░░░░░ remember the ultimate decision ░░░░░░░░ reopen businesses are the ░░░░░░░░ themselves They re the ░░░░░░░░ that shut down first ░░░░░░░░ businesses are responsible for ░░░░░░░░ people They re responsible ░░░░░░░░ their employees but they ░░░░░░░░ equally responsible for their ░░░░░░░░ and their customers If ░░░░░░░░ were still in private ░░░░░░░░ running a large organization ░░░░░░░░ would be working on ░░░░░░░░ very detailed plan to ░░░░░░░░ up in some way ░░░░░░░░ in a highly segmented ░░░░░░░░ I would have my ░░░░░░░░ separate in location and ░░░░░░░░ would have them very ░░░░░░░░ in times when they ░░░░░░░░ to work And I ░░░░░░░░ keep those different groups ░░░░░░░░ So if I had ░░░░░░░░ group that came in ░░░░░░░░ Monday morning they would ░░░░░░░░ see the group that ░░░░░░░░ in on Tuesday morning ░░░░░░░░ Monday morning group might ░░░░░░░░ back in on Wednesday ░░░░░░░░ So you really have ░░░░░░░░ think through a highly ░░░░░░░░ way to bring your ░░░░░░░░ back to work MASON ░░░░░░░░ you re thinking of ░░░░░░░░ as a very slow ░░░░░░░░ deliberate process Over how ░░░░░░░░ a period of time ░░░░░░░░ you think COHN Well ░░░░░░░░ re going to have ░░░░░░░░ respond based on a ░░░░░░░░ rate If we see ░░░░░░░░ reinfection we can speed ░░░░░░░░ the process If we ░░░░░░░░ reinfection come back into ░░░░░░░░ system we ll probably ░░░░░░░░ down the process So ░░░░░░░░ re going to have ░░░░░░░░ take our clues from ░░░░░░░░ disease itself COVID 19 ░░░░░░░░ going to be the ░░░░░░░░