Any Wall Street veteran worth his salt knows that the most important weapon with which to line his arsenal is a fall guy. Inevitably he's going to fuck enough shit up that someone's going to have to get fired and wouldn't it be a shame if it were him? Holding senior execs accountable for their own gaffes and pratfalls would be as patently absurd as Goldman's prop desk just up and deciding to stop front running clients. Luckily, former Bear Stearns CEO Alan Schwartz knows of this rule, and is planning on buddy system'ing it up at his next gig. The Post reports that Schwartz will be taking erstwhile Bear MD Richard Metrick with him upon leaving Bearpont Morgan Chase in August. The duo doesn't know exactly where it's going, but is said to be mulling offers from Citigroup, Goldman Sachs, Warburg Pincus, and KKR. Other requirements Schwartz rumored to be putting in his next contract are included but not limited to immunity following the takeover of whatever firm he takes down, and peanut butter M&M's.
Bear's Schwartz Mulling Job Offers [NYP]
Posted by guest , Aug 05, 2008 10:44AM
I should try and get the M&MS in my contract
Posted by guest , Aug 05, 2008 10:50AM
I like the lambasting of gsco prop desk while/where they cannot defend themselves...
Posted by guest , Aug 05, 2008 11:03AM
I wanna see Schwartz try to take on a rubber shark while hanging from a helicopter and wearing tights.
Then I'll be impressed.
-DK
Posted by guest , Aug 05, 2008 11:03AM
2- Fortunately, they have you to defend them.
Posted by guest , Aug 05, 2008 11:07AM
I'm not jumping on the "I'm hot for Bess" bandwagon, but that first paragraph is classic.
Beyond pithy. It's pithy with a punch.
Posted by guest , Aug 05, 2008 11:09AM
@2 cry us a river you poor overpaid ivy league puss.
Posted by guest , Aug 05, 2008 11:42AM
4 and 6, not sure why you think I am on their side?