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Ace Greenberg Has Kept In Touch With Most But Not All Former Bear Execs

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Hint: the one he hasn't been trading emails with is the guy who tried to sell you some schwag in the alley behind 383 yesterday during lunch. Also, “We had 3 people who worked for us [at Bear]. We had Cy the Spy, one was called the ferret, and one was called, I think the weasel. And their job was to walk around without any notice, sit down with a trader and look at his book and query him. So constantly we were on guard against the one thing that could cause you into so much trouble, and that’s an employee burying trades, having something that went bad and not disclosing it, and of course it gets worse and he tries to cover up and then you have a loss of a billion dollars or in one case 7 billion dollars. Which you probably read about a few years ago. So that was always my big fear and we were particularly rough about that. And any trader that didn’t want to cooperate with those three people, I said “you’ll make my day, just let know about that.”

Earlier: “Does the couch smell like pot or not?”


Former Bear Stearns Chairman Ace Greenberg Came Up With The Idea For The New Yorker Pickpocket Profile, Holds Monthly "Gatherings" For The World's Foremost Magicians

Perhaps, some of you thought, that as he pushes 90, former Bear Stearns Chairman and CEO Alan "Ace" Greenberg would slow down a bit, as people his age tend to do. Retiring from his job at JPMorgan seemed unlikely-- he's only 85, after all-- but maybe he'd dial back his time on the magic circuit. Perform old tricks for colleagues, strangers, and friends, rather than new. Just generally not stay up to date on the latest trends in magicianry. Luckily, these baseless assumptions could not be further from the truth. In fact, Ace is sharper than ever, routinely humiliating those half (and even one-sixth) his age while teaching them the ropes in an alley behind JPM HQ. How does he do it? By keeping himself engaged with the upper echelons of the magic community, for whom he hosts a regular salon d'enchantment each month.