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Let's Be Clear: I Am *With* These Idiots, Not *Of* These Idiots

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"First of all, I take exception to the 'you guys' comment. I did not create these C.D.O.'s."
--John A. Thain, Merrill Lynch's chief executive, responding to an analyst comment during the securities firm's conference call Thursday afternoon. He was referring to mortgage investments that Merrill made under his predecessor, E. Stanley O'Neal.

Stan O'Neal, Are You Listening [DealBook]


"Let The Wives And Children Of These Drunkards Be Confronted With, And Shamed By, The Grotesque Conduct Of Their Husbands And Fathers"

Last month, a fight broke out at the New York Athletic Club that a witness described as a “nondiscriminatory ragematch” involving “young people, old people, girls, members, and nonmembers,” which started as a tiff over a woman and “escalated into a brawl involving three fighting wolfpacks,” wherein “tables were overturned or moved to the room’s periphery to crate a lion’s pit for the battle,” a “fat pudgy kid came out of nowhere, laid out a larger man with a blow to the head and was tackled by a crowd,” approximately two noses were broken, and the police made three arrests. The club's President was pretty, pretty embarrassed by the whole thing, as indicated in a letter to members in which he wrote, "I cannot state forcefully enough how abhorrent this even is to me...It is the responsibility of each and every member to protect and embellish the standing of the N.Y.A.C." And while Manhattan prosecutors' promise to go afterthe guy responsible for most of the damage ensures the shame NYAC officers are feeling won't die down any time soon, perhaps they can take some small solace in the fact that they were hitting each other only with their hands. [...] Piedmont Driving Club Letter [PDF]