$$$ Bethany McLean: "The five hotshots who took Fortress Investment Group public were worth billions at first. Today they look like arrogant showboats, and their story helps explain why hedge funds are imploding by the thousands--and why there's still a truckload of money to be made." [VF]
$$$ Beautiful Banker Yields Interest: Life After Goldman Is a Catwalk! [Observer]
$$$ Specialists Pay $70 Million to Settle S.E.C. Charges [Dealbook]
$$$ Goldman lays off down under [The Deal]
$$$ Bubba To Talk Green [Fortune]
Posted by guest , Mar 04, 2009 6:26PM
That Observer article, also mocked by Gawker, is so scary and sad.
Everything about I-Bankers is just so douchey, so one-dimensional. I dont how close to Spanish, Fratish is.
Everyone, read the article. Thoughts?
Posted by HAM05 , Mar 04, 2009 6:34PM
'she said it was normal size'
Posted by guest , Mar 04, 2009 6:41PM
"that's about the size of it"
Posted by guest , Mar 04, 2009 7:39PM
Why am I so unsurprised by the front running done by Goldman Sachs, Knight Financial and E*Trade?
Posted by guest , Mar 04, 2009 7:56PM
I'm squishing your head... I'm squishing your head...
Posted by guest , Mar 04, 2009 8:06PM
re: Observer article
Investing in real estate in Buenos Aires would be a GREAT way to lose what little funds you have left. They love gringos down there who come with their hard currency, and it's rife with tite problems, undeclared extra rooms / floors, and a line of inspectors, agents, and lawyers to bribe.
I also like how it makes someone who made it to Associate seem like he quit while he was on top of the world and now will just collect art or something...
Posted by guest , Mar 04, 2009 8:22PM
I just read to the part about how he went to Dartmouth after prep school ... 'nuff said.
8==D~~
Posted by guest , Mar 04, 2009 8:27PM
I think Bethany McLean is rather tasty. Lose the conservative dress and you'll do it for me. Thanks, babe!
Posted by guest , Mar 04, 2009 8:38PM
"Steven Cohen, who runs the multi-billion-dollar fund SAC Capital, became the trendsetter when he paid $8 million in 2004 for British artist Damien Hirst’s shark in formaldehyde. He also owns two de Koonings that he bought from DreamWorks co-founder David Geffen for $63 million and $137.5 million, respectively, as well as works by Picasso, Warhol, Pollock, and Munch."
I wonder what the MTM (and mark to model) is on those.
Posted by trojan , Mar 04, 2009 8:50PM
bethany mclean = mom from Weeds
Posted by Gordon Ghetto , Mar 04, 2009 9:03PM
The Vanity Fair article had an interesting quote from the head of York Capital who said, when he started his fund, he never expected to make anything like what he has. Think of all the people who accumulated a net worth of, say, $20 million or more by working in hedge funds. How many got into the industry this decade, when doing so seemed like a no-brainer? Probably not very many. The moguls of tomorrow are currently toiling on ventures at which "respectable" people are scoffing.
Posted by guest , Mar 04, 2009 9:49PM
@11 what worries me about your comments is that the only thing i can think of, off the top of my head "that respectable people are scoffing about" is working for Geithner @ treasury.
At this point, since the government is intent on inserting itself into all corners of the markets, a decade from now working for Treasury may be the last profitable venture.
Posted by guest , Mar 04, 2009 10:17PM
Capitalism is out. Capitolism is in.
Posted by guest , Mar 04, 2009 10:21PM
11/12 government is the only growth industry left.
Everything else is just a source of funds for the new, grand experiment.
"I am a lobbyist" will be the pick up line of 2017.
Posted by Anal_yst , Mar 04, 2009 11:26PM
New goldmine is in being a "service provider" to the new USA, Inc.
Posted by Barack Obama , Mar 04, 2009 11:57PM
That banker is hot
Posted by guest , Mar 05, 2009 12:01AM
"Today they look like arrogant showboats"
Unlike, say, those guys on Capitol Hill, or Andrew Cuomo...
Posted by Lowly Assistant , Mar 05, 2009 1:10AM
The VF article was actually very well done. Cliff was even kind enough to drop some knowledge without expletives. Fancy that.
It still boggles my mind why people are so willing to talk with media regarding their personal lives. David Webb - please don't reveal your sexual exploits to the masses. Discussing when you 'broke your cherry' or what that first lassie felt like in the big ol' bright-lit city of New Yorrrk...you are the world's asshole.
I still remember picking up the post the morning they "interviewed" that cute south-asian girl that LSO made fun of (via a letter from Gopal, if I'm correct?). Put your head down, and shut the fuck up.
Please remind me why anyone would be compelled to divulge personal stories you'd hide from a current or ex-lover to the masses. Are we that desparate for approval? I mean, it makes for comedy gold, but aren't you ashamed? Do you have no shame, Sire anti-bberry-user, Mr. Webb? http://www.youtube.com/watch?v=7H22q1iDOKA
Posted by guest , Mar 05, 2009 5:30AM
"It’s also worth noting that, despite all the problems in hedge-fund land and the clamor for more regulation (and there will be more regulation), you don’t see any hedge-fund managers in Washington with their hands outstretched for a piece of the bailout pie."
Cue the fundie requests for bailout money. Or isn't that what the Talf is set up to do?
Jesus, I don't even know anymore, everything is just becoming a blur. I should probably stop doing drugs.
Does anyone else have the feeling that we're going to wake up in a few months in some kind of a civil war/revolutionary scenario?
I don't even know what side I'd be on right now.
Fuck it, I'm going to sell all my shit over the next few weeks and move to Montana. I've just freaked myself the fuck out.
Posted by guest , Mar 05, 2009 7:34AM
"The Asset" should have killed this guy David Webb when he had the chance...
Posted by guest , Mar 05, 2009 8:28AM
that guy (ex-banker) is such a cliche it's hilarious
Posted by guest , Mar 05, 2009 8:38AM
Isn't this new anagram going to "save the hedgies", sort of like "saving the wales"?
Posted by guest , Mar 05, 2009 8:50AM
Maybe Tiny Tim ain't so tiny after all.
Posted by guest , Mar 05, 2009 8:54AM
"It's about this long"
Posted by guest , Mar 05, 2009 9:20AM
was it this:
"...only the little people pay taxes"
"Congressman, Paulson only violated me this much, before I agreed to go along with his half-a$$ed plan"