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Keeping It In The Family

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So who is the big shot who poinied up nearly $8 million for Hank Paulson’s Upper West Side digs? None other than another Goldman Sachs big, of course. The buyer was Goldman managing director Tony Lauto.
Like everything else that seems to take place in 2006, it’s also still 2003. Haunting that apartment and the sale are the ghosts of Dick Grasso, Eliot Spitzer and the New York Stock Exchange.

Despite a tremendous amount of interest in the old C.E.O.’s uptown-facing apartment, it was easy for Mr. Lauto to introduce himself. There was more, after all, than just Mr. Lauto’s current job at Goldman. His little brother happens to be John Lauto, the C.E.O. of Goldman’s stock specialist, Spear, Leeds & Kellogg, and a member of the New York Stock Exchange’s Director Candidate Recommendation Committee for 2006.
Why might that matter? Before joining the Bush administration, Mr. Paulson was a NYSE board member who was loudly critical of former exchange chairman Richard Grasso’s compensation package. Goldman president John Thain was named as the stock exchange’s C.E.O. in December of 2003.

Hank Paulson Sells $8 M. Condo To a Well-Connected Banker [New York Observer via Wall$treetFolly]