We describe a relationship between work of Laksov, Gatto, and their collaborators on realizations of (generalized) Schubert calculus of Grassmannians, and the geometric Satake correspondence of Lusztig, Ginzburg, and Mirković and Vilonen. Along the way we obtain new proofs of equivariant Giambelli formulas for the ordinary and orthogonal Grassmannians, as well as a simple derivation of the "rim-hook" rule for computing in the equivariant quantum cohomology of the Grassmannian.