NYT: Tough Times for Buyout Lords
I don't normally post these, but I couldn't resist.
http://www.nytimes.com/2008/03/08/business/08mogul.html
Tight Credit, Tough Times for Buyout Lords
Published: March 8, 2008
...
“The crowds are smaller at cocktail parties, the aura is stained, but there still is the letter B, as in billionaire, next to their name,” said Andy Kessler, a former hedge fund executive who has written books about Wall Street. “They may still have halls named after them at universities, but the idea that these guys are the kings of investing, that time has passed.”
UPDATE March 10: A $100 million Donation to the N.Y. Public Library. That was fast. "Stephen A. Schwarzman Building ...the name to be etched on the building." Schwarzman wants his legacy etched in stone and protected by lions.
...
“The crowds are smaller at cocktail parties, the aura is stained, but there still is the letter B, as in billionaire, next to their name,” said Andy Kessler, a former hedge fund executive who has written books about Wall Street. “They may still have halls named after them at universities, but the idea that these guys are the kings of investing, that time has passed.”
UPDATE March 10: A $100 million Donation to the N.Y. Public Library. That was fast. "Stephen A. Schwarzman Building ...the name to be etched on the building." Schwarzman wants his legacy etched in stone and protected by lions.
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