*****


  • Web
    Wall Street Folly

Categories

^^^^^







  • ;

Copyright / Disclaimer

  • Disclaimer: Wall Street Folly offers gossip, rumors, opinions and highlights news which we believe is important. We're heavy on humor and satire (or try to be), and often focus on the hilarious, the sordid, the salacious, the absurd and the horrific that occurs on Wall Street and beyond. The site relies heavily on reported information from other publications and sites which we hope is correct, but may or may not be -- we can't / won't guarantee it. We cite our sources where applicable. So please do your own research and draw your own conclusions. The site is not a broker, dealer, or investment advisor and any opinions are ours alone and are protected by the First Amendment.
  • © Wall Street Folly

« Busy bee: Meredith Whitney dissed Citigroup's recovery plan yesterday and last night she lowered Goldman's, Lehman's, Morgan Stanley's and Merrill's earnings estimates | Main | Blackstone is starting up an Asian Event Driven fund business »

Was Bear Stearns' CEO's party invitation lost in the mail?

BenBernankeLastSupper-001

Or was Alan Schwartz just plain dissed at a luncheon hosted by Ben Bernanke and attended by most every other Wall Street BSD?  Or maybe he was invited and was just too busy trying to put out fires on the home front.  In any case, Bernanke hosted one hellofa gathering (click on picture to enlarge)....

Federal Reserve Chairman Ben S. Bernanke lunched on March 11 with a Who's Who of Wall Street leaders, including JPMorgan Chase & Co.'s Jamie Dimon, three days before the central bank rescued Bear Stearns Cos. from bankruptcy.

Other guests included Goldman Sachs Group Inc. Chief Executive Lloyd Blankfein, Lehman Brothers Holdings Inc. CEO Richard Fuld, Morgan Stanley President James Gorman, Citigroup Inc.'s Robert Rubin, Blackstone Group CEO Stephen Schwarzman and Merrill Lynch & Co. CEO John Thain. Alan Schwartz, the CEO of Bear Stearns, was not listed among the attendees.

The luncheon at the New York Fed gave Bernanke a chance to hear from chiefs of some of the biggest U.S. financial companies and hedge funds in the middle of his most tumultuous month as central bank chief. The meeting came hours after he announced plans to lend $200 billion of Treasuries in exchange for debt including mortgage-backed securities.

The chairman's March 11 lunch with financial-industry executives was held at the New York Fed, with Geithner also attending. Bernanke and Geithner told Congress last month that they were informed of Bear Stearns's troubles on March 13.

Other people at the gathering were Citadel Investment Group LLC CEO Kenneth Griffin, American Express Co. CEO Kenneth Chenault, Duquesne Capital Management LLC CEO Stanley Druckenmiller and Caxton Associates LLC Chairman Bruce Kovner.

Bernanke Lunched With Dimon, Rubin Before Bear Rescue - Bloomberg

Comments

Post a comment

Comments are moderated, and will not appear on this weblog until the author has approved them.

If you have a TypeKey or TypePad account, please Sign In