those were the days

Was it:

a) Lloyd Blankfein
b) Hank Paulson
c) Jon Corzine
d) Stephen Friedman
e) Gus Levy
f) John Whitehead
g) John Weinberg
h) Sidney Weinberg
i) Marcus Goldman
j) other Read more »

Specifically, her rights to Perrier on the company dime. It’s unclear what this woman’s name is so moving forward she’ll simply be referred to as The One With Brass Balls And An Allergy To Tap. Read more »

“First of all, this is a personal choice. From a corporate perspective, we have a lot of Democrats at the firm and my partner, Tony James, has been a supporter of the president. This is my choice, not a Blackstone choice. When we started Blackstone in 1985, the first investment we made in private equity was a joint deal with Mitt Romney at Bain. This turned out to be a marvelously successful deal with a profit of a company making aluminum wheels which expanded very rapidly. We made about 16 times profit. The second deal we did, Mitt led that one – we did that deal at Blackstone and we invited him to be the minority partner and we made 24 times our money. In finance, that’s a way to make friends.” Read more »

Thornton

For his new book about Goldman Sachs, Money and Power, William Cohan goes inside to figure out the Masters of the Universe’s secrets to success. Speaking to FINS recently, Cohan noted that the firm subscribes to a “work hard, work hard” mantra (as opposed to “work hard, play hard”) and that it goes to great lengths to nail the idea into employees’ heads that failure is not tolerated. For instance, former president John Thornton once mentioned, while pitching a potential client, “If we do not get this mandate, I will personally slit the throats of all my team and drink their blood.” This of course got us nostalgic enough to break into the GS archives for some other motivational quotes by Thornton, all of which, as was the case on the throat slitting deal, got the job done. Read more »

As Wall Street bonuses bulged and housing prices were peaking in 2005, Daniel Mudd found himself dreading his top job at Fannie Mae. Going to work felt like “a choice between poking my eye out and cutting off a finger,” Fannie’s former chief executive officer recalls in Bethany McLean and Joe Nocera’s new tome, “All the Devils Are Here.” [Bloomberg]

Steve Mandala is the guy who took Merrill Lynch for $780,000, and with some of the cash, bought himself a red 2006 Ferrari F430 Spider. Prior to joining the bank, he was a broker at Maxim Group who earned about $100,000 annually. He sensed that there was some money to help himself to at Mother Merrill but didn’t think he’d be able to land the gig. So, he lied and told them he was a partner at Maxim, where he managed $300 million in assets and took home $765,000 a year. This probably would not have worked at some other firm, but Merrill was a special, special bank.

“Somehow you got them to hire you because you told them you had big-time clients?” acting state Supreme Court Justice Carol Berkman said to Mandala in court, referring to Merrill Lynch.

Read more »


“The biting of the nose and the fights, sure, when you’re throwing around that kind of money, people tend to lose it sometimes,” said Doug Pringle, 42, who traded corn, soybeans, 10- year Treasury notes and 30-year bonds for 17 years. “I miss the excitement.”
Trading-Pit Glamour Dims as Computers Ascend in Film [Bloomberg]
Floored Official Site [Floored the Movie via DI]

  • 07 Dec 2009 at 4:37 PM

Danielle Chiesi: The College Years

As previously mentioned, one of the unforeseen consequences of the Galleon insider trading bust was credibility taking a hit. Specifically that of the individuals who’d told their friends and colleagues that Danielle Chiesi was a dime piece, and who were slightly dismayed to see the picture of her from a Bridget Nielsen (Flavor Flav Years) look-a-like contest. Luckily, they were saved when Bloomberg reported Danielle Chiesi was in fact named Miss Southern Tier Teenager in 1981, with the photo of DC in a tiara following shortly thereafter to prove it. Today another pic has emerged, from the sorority files.

Read more »