Ace Greenberg Doesn't Take Any Of The Adminstration's Anti-Wall Street Sentiment Personally, Thinks Everyone Should Chill About Europe, Has His Reasons For Not Meeting With Jimmy Cayne

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Why wouldn't the magician, philosopher, former Chairman of Bear Stearns and former friend o' Jimmy not want to see his old pal, who he hasn't spoken to since Bear was sold to JPMorgan (where Greenberg took a gig, while JC chose to spend his time perfecting the perfect panini to eat whilst baked)? According to a new interview with AG, it involves a desire to avoid stepping in shit. Also, Cayne impugned on the dignity of magicians.

IDD: If you ran into [Cayne], what would you say to him?
Greenberg: I would not like to step in horses---. So why would I stand around him? He's a lying f---. Some of those lies in "House of Cards." Lies about my wife — how could he bring my wife in that? How could he do that? He's just a miserable, unhappy person...He said in the book, I understand, that when it came time for bonuses, I called the key men in and threw their bonuses on the floor and made them get on the floor and pick up their bonuses. Does that sound like me, really? Is that how you build a firm? A guy doing magic tricks, would he do that?

IDD: [America is going in the right direction] in terms of the economy?
Greenberg: Very much so. I think the Obama administration has been terrific. Just terrific.
IDD: Even though they have been pretty critical about Wall Street.
Greenberg: Well, they are trying to get elected. You know you can't do great things in this country if you are not elected.

IDD: What about the problems with the euro and what they mean for our markets, the equity markets?
Greenberg: Greatly overrated, in my opinion.
IDD: Greatly overrated in terms of its importance?
Greenberg: As a danger. They can have their problems over there. Greece is a tiny little country. Portugal is a tiny country. Portugal has got two things: sardines and cork. That's what they have got. Cork is being replaced by a synthetic now. So I feel sorry for them, but what can I do? Spain is a bigger problem, but there are always problems.
IDD: So you think it has been blown out of proportion?
Greenberg: Yes. I think once again the media and people on TV make a big thing out of this. People on TV, in the midst of the rally, said the trouble with this rally is there's not much volume. Is that a terrible thing? If they'd asked me, I would have said "Yes, it's a terrible thing if you are a discount broker." If you're not a discount broker, who the hell cares? Stocks are going up. If you want to sell, there's no problem. If you want to buy them … what's this no-volume business? Like that's important. Like you can't have a good rally without big volume. We had a pretty good rally without volume.

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