[ by Melanie Gretchen ]

"I really don't think it's the government's job to take care of all this." -- Roy Niederhoffer, HF Manager from New York’s Upper West Side, while performing weekend volunteer work.

Critics of financial services firms would be wise to tread carefully when directing their slings and arrows at Wall Street Professionals - the streets of Wall Street are not all mean.  Especially when it comes to philanthropy. 

Even though Hurricane Sandy left most of the Wall Street business district under water - without electricity, telephone service, transportation and other basic necessities - Wall Street denizen followed their instincts for giving and for sharing their kindness with those in need.  Both money and volunteer time were contributed and continue have been earmarked for victims of the storm and more is on the way.

Broker-Dealers.   In the aftermath of the storm, Goldman Sachs and its employees pledged:

• to donate $5 million to aid the recovery from Hurricane Sandy
• to offer $5 million of loans to small businesses affected by the storm

Private Equity.   On the other side of the street, Henry Kravis - a private equity leader who runs Kohlberg Kravis Roberts & Co., is hoping to strengthen the city's infrastructure with a $35 million fund, Bloomberg News reported.  

Hedge Funds.   On the ground, hedge fund manager Roy Niederhoffer was among volunteers who took time over the weekend to assist New Yorkers who suffered losses in the storm.

For further details, go to [Dealbook, 11/5/12].