• 11 Jun 2010 at 10:45 AM

David Viniar Stands By His Man

Perhaps some of you remember Jon Winkelried? The former Goldman Sachs co-president is persona non grata at the firm but for the purposes of context, a quick refresh: Winkelried was the good for nothing prick who abandoned Lloyd Blankfein when the CEO needed him most, and when it would look most bad for the company to have a high level departure (circa the shit hitting the fan era). A traitorous shrew, really, who let deaf ears fall on Blankfein’s pleas to stay, and who traded it all in for a bunch of barnyard animals.

Anywho, Goldman ended up getting on just fine with out he whose name shall not be mentioned, got on great in fact, but his actions did leave a lasting mark on Blankfein, namely that he lost the ability to open up and trust high level execs and that his previously dormant abandonment issues flared up like nobody’s business. So when there was talk of Goldman CFO David “Bones” Viniar retiring, Lloyd naturally panicked. But apparently it was for naught. Bones would never do that to his li’l fella.

Viniar, a three-decade Goldman veteran, dubbed “Bones” while on the Union College basketball team, considered one of the brightest financial minds on Wall Street, told a handful of close associates as recently as last year about his desire to retire — but then quickly put those plans on the back burner when Wall Street’s most profitable firm ran into turbulence…Sources familiar with the matter say Viniar’s earlier plan would have had him stepping down to pursue other interests as early as this year. But those plans changed as it could be seen by the outside world that one of the firm’s top officers was abandoning ship. “David is very much a team player and he’ll do whatever the firm asks of him,” said one source. Added a second source: “He’s so loyal he’s only going to do anything when the timing is appropriate.”

That, and after the Winkelried incident, Lloyd had every employee’s gold-plated pair equipped ankle monitoring bracelet style. But the loyalty, that helped too.

Viniar Stays Put [NYP]

23 comments (hidden to protect delicate sensibilities)
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Comments (23)

  1. Posted by Anonymous | June 11, 2010 at 10:57 AM

    Oh God, I have that song stuck in my head and I don’t think I have ever heard it. Bess, you make my head asplode!

  2. Posted by guest | June 11, 2010 at 10:59 AM

    @1 Here’s a relevant Pigeon John song if that’ll help,

    http://www.youtube.com/watch?v=FVg6LhXCev8

  3. Posted by Zachary Kouwe | June 11, 2010 at 10:59 AM

    I wish you stood by me, Bess.

  4. Posted by Bess Levin | June 11, 2010 at 11:00 AM

    @1 don’t even know what you’re talking about but good times.

  5. Posted by Anonymous | June 11, 2010 at 11:02 AM

    Where do I send my resume?

  6. Posted by Anonymous | June 11, 2010 at 11:04 AM

    hes an accountant … mid office … sigh

  7. Posted by Tammy Wynette | June 11, 2010 at 11:09 AM

    @4

    I think I’m a bit before your time, but I wrote/recorded a song “Stand By Your Man”.

    - Tammy Wynette

  8. Posted by ih8edjfkjr | June 11, 2010 at 11:16 AM

    @Bess

    Stand by your man

  9. Posted by Onlooker | June 11, 2010 at 11:26 AM

    SCRAM bracelets for all?

  10. Posted by Anonymous | June 11, 2010 at 11:39 AM

    What do the GS women do when it comes to gold plating? They are at a genetic disadvantage, scrot-wise. I suppose some gold plated ta-tas would be OK, especially if done Madonna “cone” style, but I would think that would be awfully cumbersome, and I’m not sure most brassieres are designed to handle that kind of weight.

    -Guy with Way, Way too much time on his hands

  11. Posted by OMG | June 11, 2010 at 11:47 AM
  12. Posted by Anonymous | June 11, 2010 at 11:50 AM

    Couple more subpoenas and then let’s revisit this.

  13. Posted by Anonymous | June 11, 2010 at 11:56 AM

    I always stand behind my men.

    -The Gay Banker

  14. Posted by Anonymous | June 11, 2010 at 12:17 PM

    seems that “The Gay Banker” is all over these blogs today….and by blogs I mean dudes

  15. Posted by Lucy van Pelt | June 11, 2010 at 12:34 PM

    @10 Vejazzling? Perhaps you’ve heard of it? Très mode.

  16. Posted by Anonymous | June 11, 2010 at 1:33 PM

    Isn’t this the guy who got paid for 3 months’ work at Merrill?

    Seems smart to me

  17. Posted by Gozer | June 11, 2010 at 3:04 PM

    Lay off Winks, he was in my frat… FRAT!!!

    Goldman is so 2000 & late

  18. Posted by Anonymous | June 11, 2010 at 3:59 PM

    @17,

    Would you call your country you tree?

  19. Posted by guest | June 11, 2010 at 5:02 PM

    Barnyard animals. So hot right now.

  20. Posted by Jake Gittes | June 12, 2010 at 4:22 PM

    Goldman Sachs and “loyalty.” That’s funny.

  21. Posted by guest | June 15, 2010 at 12:50 AM

    @6 I really hope you were joking … Viniar is the highest paid CFO on the planet for a reason .. he’s not just “middle office” or an “accountant” — he’s the reason the Firm made it through the crash, he is worth every penny

    @10 the chicks (who are chicks) of course have a disadvantage but the ones that rise up have stones too, so all’s good there

    @16 I think you are talking about Peter Kraus, who was ex-GS hired by ML right before the firesale to BofA and got about $25MM for 3 months’ work

  22. Posted by Nicki | September 28, 2012 at 6:35 PM

    I saw the movie, and thought it was cotnaorish. But I can see how some might find it approachable, and it’s better than nothing.With regards to Goldman, it’s probably unfair to paint their involvement with government as all self-serving. For better or for worse, they’ve long had a culture that has encouraged people to move in public service , and while it’s easy to be cynical about the motivations, this could be one of those situations where the network built from that culture is stronger than networks built off other cultures.It’s also probably worth noting that there are reasons that people like Buffet were able to finalize deals with Goldman, but not with Lehman. There are also reasons why, when the dominoes fell, Lehman was earlier on the list than Goldman / Morgan Stanley. It’s not a question of right / wrong, but the ordering was not primarily based on government intervention. There was implicit market logic to how these dominoes came down.I love that you are blogging about this stuff, BTW. Maybe you can write a blog post about some of these topics would love to have an insider’s view on the Buffet deal, for example.

  23. Posted by oqsjortvh | September 29, 2012 at 8:02 AM

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