Talk whatever shit you want about the former Citi chairman, and I’m sure you already have, but the man has feelings. Lots of ‘em, which he unloaded on the Times over the weekend. Sandford looks at his old firm and his heart bleeds for what it’s become, namely a place where no one will take his calls and his name is under a Do Not Admit list at 399 Park Avenue. Once the most majestic bank in all the land, thanks to Weill rolling up his sleeves and cobbling it together from repurposed Monster Truck parts, SDubs aches over the fact that this pile of garbage “will never be same company that it was.” And he acknowledges, from his office on the 46th floor of the General Motors, which he for some reason needs (in addition to “a few” assistants, and pictures of himself all over the walls), that a little bit of that is his fault. Here’s what Sandy Weill did wrong, according to Sandy Weill:
* Recommending Chuck Prince as his successor, who “let Citi’s balance sheet balloon and took on huge risks”
Here’s what Sandy Weill didn’t do wrong, according to Sandy Weill:
* Recruiting Bob Rubin
* The whole Glass-Steagall thing
* Firing Jamie Dimon
* Taking the jet to Cabo shortly after the bank received an asston of money from the government
* Whatever else you’re thinking, and trying to pin on him
As the shit started to hit the fan Weill tried to help, of course, as he is a mensch and the only who can fix this thing, but it was no use. Fools running the place didn’t want to hear from him.
Starting in late 2007, he began approaching some members of Citi’s board about returning to help with its recovery. He tried first when the board was looking to replace Mr. Prince as C.E.O., and later after Vikram Pandit got the job. At the time, Mr. Weill imagined that he would be welcomed. “I had 50 years of experience,” he says. “I think I was a pretty good student of the markets, and the business. I had a good feel of things. I felt that just because I retired didn’t mean my brain went to mush. Maybe I could help.” No one responded to his offers.
You know who would’ve responded to his offers, had he not been fired for catching a BJ on the company jet? Todd Thomson.
Mr. Thomson was forced out in 2007, Mr. Weill was one of his first calls: “I unloaded to Sandy,” Mr. Thomson says.
And while the two are still tossing around the idea to start a fund together with a bunch of ex-Citi employees where no one’s going to give you shit for accepting a blow job, or whatever, from a willing CNBC employee, Toddy-boy doesn’t do Sandy much good vis-a-vis gaining access to the building in order to go down in history as the guy who saved Citigroup, does he? So for now, all Sands can do is reflect. His wife, Joan, is a little bit more angry about the situation and by angry we mean she has an actual list of people she blames for hurting her husband, who she’s planning on murdering.
“The most important thing to my husband was his reputation, ” says Mrs. Weill, who still feels angry at the portrayal of him in the press. “There are a few people I want to kill, but I am not going to name names.”
So, that kind of kicks things up a notch, doesn’t it? Anyway, surely the Mrs has mentioned a few people she’s got her eye on (stabbing), so if you’ve heard any names, please let us know at this time.
the lurking waiter is sad about citi too.
“I unloaded to Sandy,” Mr. Thomson says.
"No, wait, I unloaded ON Maria, not to Sandy or whatever her name was."
Joan is a friend-a-mine. She won't kill me.
-cg
Criminal Conspiracy 101: Never name names before you off someone. You might become a suspect.
Sandy is a man of the people. Back in '98, when the stock was imploding, he got on the horn to boost morale. "Quit whining. I own a lot more of the stock than you do. How do you think I feel?"
I remember why he chose Chuck Prince. Sandy stayed on as chairman, and he wanted someone who would play Medvedev to his Putin. He wanted to be Chairman-with-the-option-to-CEO whenever he so desired. He is such a POS.
"Jamie Dimon should have been more patient"? I was around in those days, pal – you are a control freak, and refused to let anyone have a say. Of course the talented ones will leave – and run firms that put yours to shame.
May I also add – I know the Weills from the charity circuit, and please note that their preferred giving is the "put my name on a building" type. He lobbied HARD to be head of Carnegie Hall's board… thought it meant he'd arrived. Hence the "Weill Recital Hall" he had to give to get the position. So he's less philanthropic, and more an insecure vanity case.
/vent over
I'm suspicious of all of this.
The Jaundiced Eye
"Once the most majestic bank in all the land, thanks to Weill rolling up his sleeves and cobbling it together from repurposed Monster Truck parts"
awesome
6=JD, continuing to win top spot on Joan's hit list.
You do know that it is in his contract that Citi pay for those echoingly-empty offices, and for a car and driver, right?
http://dealbook.blogs.nytimes.com/2009/01/29/weil…
http://cityfile.com/dailyfile/3946
Costs $2 mil/year for that office space. oh, and that he'll give up flying the Citi private jet – but by 2013.
@10 doesn't change the fact that he doesn't need the office, does it boss?
I thought this guy's last gig was advising Tony Soprano on horses and what not.
look at the big brain on 10.
/heavy sarcasm
I'm nervous.
@12: Not only doesn't he need it, he should be @#$*&(#$ embarrassed that people even know about it. He is clinging to that contract "they owe me and Joan insurance, and a car and driver, and office space!" rather than realizing how grasping it makes him look.
When I read crap like this the thing that comes to mind is, "Sandy, my heart bleeds cold borscht for you."
When I read crap like this the thing that comes to mind is, “Sandy, my heart bleeds cold borscht for you.”
Sandy looks like a younger fatter Barbara Bush.
Sandy, how many times do I have to tell you – always sit in the back of the resturant. MC
JT is in the background haha
I was expecting this image after the break.
http://img502.imageshack.us/img502/9145/2us8lts.j…
Does anyone really give a shit how Weill, Thomson and Bartiromo feel????….I don't. They were all taught by mommy to think before you act.
23 = vikram
Hey #19….notice how closely he resembles Bernie Madoff????
[...] Vikram, a whole lot of face paint, plus a Chuck Prince-shaped piñata, but that plan went to hell the day he found out he’s not allowed within 200 feet of the building). And so, he’s set his sights [...]
[...] Vikram, a whole lot of face paint, plus a Chuck Prince-shaped piñata, but that plan went to hell the day he found out he’s not allowed within 200 feet of the building). And so, he’s set his sights [...]
the lurking waiter is sad about citi too.
“I unloaded to Sandy,” Mr. Thomson says.
“No, wait, I unloaded ON Maria, not to Sandy or whatever her name was.”
Joan is a friend-a-mine. She won’t kill me.
-cg
Criminal Conspiracy 101: Never name names before you off someone. You might become a suspect.
Sandy is a man of the people. Back in ’98, when the stock was imploding, he got on the horn to boost morale. “Quit whining. I own a lot more of the stock than you do. How do you think I feel?”
I remember why he chose Chuck Prince. Sandy stayed on as chairman, and he wanted someone who would play Medvedev to his Putin. He wanted to be Chairman-with-the-option-to-CEO whenever he so desired. He is such a POS.
“Jamie Dimon should have been more patient”? I was around in those days, pal – you are a control freak, and refused to let anyone have a say. Of course the talented ones will leave – and run firms that put yours to shame.
May I also add – I know the Weills from the charity circuit, and please note that their preferred giving is the “put my name on a building” type. He lobbied HARD to be head of Carnegie Hall’s board… thought it meant he’d arrived. Hence the “Weill Recital Hall” he had to give to get the position. So he’s less philanthropic, and more an insecure vanity case.
/vent over
I’m suspicious of all of this.
The Jaundiced Eye
“Once the most majestic bank in all the land, thanks to Weill rolling up his sleeves and cobbling it together from repurposed Monster Truck parts”
awesome
6=JD, continuing to win top spot on Joan’s hit list.
You do know that it is in his contract that Citi pay for those echoingly-empty offices, and for a car and driver, right?
http://dealbook.blogs.nytimes.com/2009/01/29/weill-cuts-back-on-citi-perks/
http://cityfile.com/dailyfile/3946
Costs $2 mil/year for that office space. oh, and that he’ll give up flying the Citi private jet – but by 2013.
@10 doesn’t change the fact that he doesn’t need the office, does it boss?
I thought this guy’s last gig was advising Tony Soprano on horses and what not.
look at the big brain on 10.
/heavy sarcasm
I’m nervous.
@12: Not only doesn’t he need it, he should be @#$*&(#$ embarrassed that people even know about it. He is clinging to that contract “they owe me and Joan insurance, and a car and driver, and office space!” rather than realizing how grasping it makes him look.
When I read crap like this the thing that comes to mind is, “Sandy, my heart bleeds cold borscht for you.”
When I read crap like this the thing that comes to mind is, “Sandy, my heart bleeds cold borscht for you.”
Sandy looks like a younger fatter Barbara Bush.
Sandy, how many times do I have to tell you – always sit in the back of the resturant. MC
JT is in the background haha
I was expecting this image after the break.
http://img502.imageshack.us/img502/9145/2us8lts.jpg
23 = vikram
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