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Former Bear Stearns CEO Greenberg Says Investment Banks ‘Gone’

Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
Dec. 8 (Bloomberg) -- Alan “Ace” Greenberg, the former Bear Stearns Cos. chief executive officer who is approaching his 61st year on Wall Street, said the investment-banking model he helped pioneer is “gone.” “There’s no more Wall Street,” Greenberg, 81, said today in an interview to be aired on Bloomberg’s “Money & Politics” television program. “That model just doesn’t work because it’s at the mercy of rumors.” http://www.bloomberg.com/apps/news?pid=20601087&sid=ajT..qRXfNN0&refer=home ZERO effect on Manhattan real estate, BTW.
Response by jsmith9005
over 17 years ago
Posts: 360
Member since: Apr 2007

I agree - no effect on Manhattan RE.

But this will have a significant impact:
http://www.nypost.com/seven/12032008/entertainment/fashion/backstage_secrets_141984.htm

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

ccdevi, nice of you continuously to post absolutely irrelevant articles. Like your earlier football post.

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Response by Sizzlack
over 17 years ago
Posts: 782
Member since: Apr 2008

I think steve should start his own RE site....Steveeasy.

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

Steveeasy.

LMAO.

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Response by Sizzlack
over 17 years ago
Posts: 782
Member since: Apr 2008

Hey it sounds better than EasySteve right?

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

I'm too complicated for that.

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Response by petrfitz
over 17 years ago
Posts: 2533
Member since: Mar 2008

wow Steve posted another negative obvious article to prove that he is somehow a real estate genius. Thanks Steve we didnt know it was a recession ....

How about posting 1 article where you can see opportunity in RE? Just 1. I have been asking Steve for a year and he hasnt been able to come up with 1 opportunity.

Who you take financial advice from an advisor that couldnt tell you 1 sound investment? That is Steve credibility.

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Response by positivecarry
over 17 years ago
Posts: 704
Member since: Oct 2008

What's wrong with being bearish on 1 asset class?

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Response by LP1
over 17 years ago
Posts: 242
Member since: Feb 2008

why do you a-holes have to fill up these posts with garbage? Are you children? 14 living at home with your parents? You know what, a lot of people are getting layed off. We are losing our jobs and will move out of the area to keep food in our kids bellies. This is serious stuff. Take your irrelevant posts elsewhere.

Steve, Greenberg is right. The banking industry is over. We will be regulated like a utility.

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

If it were Chicago, she could just buy the seat.

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Response by dwell
over 17 years ago
Posts: 2341
Member since: Jul 2008

"why do you a-holes have to fill up these posts with garbage?"

LP1,
Yeah, it's getting old. Maybe the board needs to be moderated.

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

The board is moderated. They should remove posts whose only intent is to prevent people from having a rational discussion.

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