Money and Power

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Money and Power Page 91

by William D. Cohan

Connor, John T.

  constant maturity mortgage (CMM)

  “Contagion and Crowded Trades”

  Continental Can Company, 1.1, 1.2

  Continental Group, Inc., 11.1, 11.2

  Continental Illinois National Bank and Trust

  convergence trades

  Conway, Kevin

  Cook, Karen

  Cooke, Jennie C.

  Cooperman, Leon

  Coopers & Lybrand

  CoreStates Financial

  Corinthian Broadcasting Company

  Cornacchia, Thomas

  Corning Glass Works, 4.1, 4.2, 4.3

  corporate raiders, 9.1, 9.2, 10.1, 11.1, 11.2, 14.1, 14.2, 17.1

  Corrigan, E. Gerald

  Corzine, Joanne Dougherty, 14.1, 14.2

  Corzine, Jon, 12.1, 12.2, 13.1, 14.1, 15.1, 17.1, 18.1

  background of

  double role of

  early mistakes at Goldman Sachs of

  as Friedman’s successor, 14.1, 14.2, 14.3

  goals and aspirations of

  health problems of

  loyalty to

  LTCM deal and, 16.1, 16.2, 16.3, 16.4, 16.5

  Maxwell lawsuit and

  mergers desired by, 16.1, 16.2

  and move to go public, 14.1, 15.1, 15.2, 15.3, 15.4, 16.1, 16.2, 16.3, 16.4, 16.5, 17.1

  1994 losses and, 14.1, 14.2, 14.3, 15.1, 15.2, 15.3, 16.1

  “palace coup” against, 16.1, 17.1, 17.2

  Paulson’s relationship with, 14.1, 14.2, 15.1, 16.1, 16.2, 16.3, 16.4, 16.5, 16.6, 16.7, 16.8, 17.1

  positive thinking of, 15.1, 15.2

  Coster, F. Donald

  cough syrup

  Coulson, Frank

  Council of Foreign Relations

  Council on Wage and Price Stability

  Countrywide, 18.1, 18.2, 18.3, 22.1

  Coyne, Herbert, 9.1, 9.2

  Coyne, Marty

  Cramer, James, prl.1, 10.1, 17.1, 24.1, 24.2

  C. R. Anthony, 7.1, 7.2

  credit-card receivables, 18.1, 18.2

  credit-default swaps (CDSs), 18.1, 18.2, 19.1, 19.2, 20.1, 20.2, 20.3, 21.1, 21.2, 23.1, 23.2, 23.3

  Credit Suisse Group, 12.1, 20.1

  credit support agreement

  Credit Support Annex

  CS-1, 11.1, 11.2, 11.3, 11.4, 11.5, 11.6, 11.7

  Cuckney, John

  Cullman family

  Cunningham, Bill

  Cunningham, Jeffrey

  Cunningham, Mary

  Curran, Paul, 11.1, 11.2

  currencies, 16.1, 16.2

  see also specific currencies

  Daily Mirror, 14.1

  Daily Word, 5.1

  Dauphinot, Clarence

  Davies, Gavyn

  Davies, Joseph

  Davilman, Andrew, 21.1, 23.1

  Davis, Charles “Chuck”

  Davis Polk & Wardell

  Day, H. Corbin

  Dead Poets Society, 15.1

  Dean, Arthur, 4.1, 4.2

  Dean Witter, 16.1, 17.1

  Dearborn Independent, 4.1

  debt see underwriting

  De Coppet & Doremus

  deficit reduction

  Delmar Capital Corporation

  DeLucia, David

  Democratic National Campaign Committee

  Democratic National Campaign Executive Finance Committee

  Democratic National Committee, 3.1, 13.1

  Demos, Raphael

  Denham, Robert

  DeNunzio, Ralph, 11.1, 11.2

  Department of Trade and Industry (DTI), U.K., 14.1, 14.2, 14.3

  derivatives, prl.1, 21.1

  AAA ratings of, prl.1, 18.1, 18.2, 21.1, 21.2, 22.1, 23.1

  arbitrage and

  Blankfein’s defense of

  Buffett’s dislike of

  Friedman’s worries about

  Levin’s criticism of, prl.1, prl.2

  Derivatives Week, 21.1

  Detroit, Mich., 4.1, 9.1

  Deutsche Bank, 15.1, 17.1, 18.1, 18.2, 19.1, 19.2

  deutsche mark, 14.1, 14.2

  Diamond Rubber Company

  Diebold, Inc.

  Dilday, Clarence

  Dillon, Read & Co., 4.1, 4.2

  Dinkins, David

  Directorship, 24.1

  divorce

  Dobkin, Eric

  DOCOMO

  Dodd-Frank Act (2010), prl.1

  Domestic Policy Council

  Donaldson, Lufkin & Jenrette (DLJ), 9.1, 9.2

  Donovan, William J. “Wild Bill,” 3.1, 17.1

  Donovan, Leisure

  Doonan, Thomas, 11.1, 11.2, 11.3, 11.4, 11.5, 11.6

  Doral Arrowwood, 15.1, 15.2, 15.3, 15.4, 15.5, 16.1

  Doty, George, 6.1, 6.2, 7.1, 7.2, 7.3, 8.1, 8.2, 8.3, 9.1, 10.1, 14.1

  and purchase of J. Aron, 9.1, 9.2, 9.3, 9.4, 9.5

  Douglas Aircraft Company

  Dow Jones Industrial Average, 12.1, 16.1

  Dowler, John

  Drexel Burnham Lambert, 11.1, 11.2, 11.3, 11.4, 18.1, 23.1

  Dreyfus, Ludwig, 1.1, 1.2

  Drizzle, David

  Drobny, Steven

  drugs

  DTI, see Department of Trade and Industry, U.K.

  Dudley, William

  Dukakis, Michael, 13.1, 13.2

  Dun & Bradstreet

  Dunbo, Mike

  DuPont

  Dyal, Gordon

  Early, Stephen

  Eavis, Peter

  eBay

  Eckert, Alfred “Fred”, III, 12.1, 12.2

  Economist, 14.1, 14.2, 14.3, 17.1, 17.2

  Edelman, Asher

  education, 13.1, 13.2

  efficient market hypothesis

  E. F. Hutton, 8.1, 14.1

  Egol, Jonathan, 19.1, 20.1, 20.2, 21.1, 21.2, 22.1

  Ehrlich, Judith Ramsey

  Ehrlichman, John, 14.1, 14.2

  Einhorn, David

  Eisenberg, Lewis M., 12.1, 12.2, 12.3, 12.4, 14.1, 14.2, 14.3

  Eisenhower, Dwight D., 3.1, 3.2, 6.1

  Eisner, Michael

  Elberon, N.J.

  elections and campaigns, U.S.:

  1932, 3.1, 3.2, 3.3

  1936, 3.1, 3.2

  1940

  1972

  1980

  1984

  2008

  Electric Storage Battery Company (ESB)

  Eli Lilly

  Elizabeth Arden

  Ellis, Charles, 5.1, 5.2, 5.3, 8.1, 9.1, 15.1, 16.1

  Elson, Charles, 24.1, 24.2

  EMC Mortgage Corporation

  Encore Credit Corporation

  Endicott-Johnson

  Endlich, Lisa, 8.1, 10.1, 10.2, 10.3, 12.1

  Engelhard Minerals and Chemical Corporation

  England, 2.1, 2.2

  Engman, Lewis, 14.1, 14.2

  Enhanced Leverage Fund, 22.1, 22.2

  Enron

  Epstein, Edward Jay

  Equal Employment Opportunity Commission, 7.1, 7.2, 7.3

  Equitable Life Assurance Society

  equity see underwriting

  eToys

  euro

  Eurobond

  European Central Bank

  Evans, J. Michael, 14.1, 15.1, 21.1, 24.1

  Evans, Nancy

  “event driven” arbitrage

  Exodus Communications

  ExxonMobil

  Facebook, prl.1, 2.1

  Face the Nation, 11.1

  Fairrie, James

  Falcone, Philip

  Fanlo, Nino

  Fannie Mae, 18.1, 18.2

  Farrell, Anne Brown

  Federal Aviation Administration

  Federal Deposit Insurance Corporation (FDIC)

  Federal Reserve, 10.1, 10.2, 13.1, 14.1, 14.2, 14.3, 16.1, 16.2, 18.1, 20.1, 21.1

  Bear Stearns’s creditors rescued by

  design of

  as “lender-of-last resort”

  in response to European financial troubles

  short-term l
oans granted by, prl.1, prl.2

  Federal Reserve Act (1913)

  Federal Reserve Bank of New York, prl.1, 1.1, 10.1, 16.1, 16.2, 23.1, 24.1, 24.2

  Federal Trade Commission, 5.1, 5.2, 14.1

  Federated Investors

  Federation of Jewish Philanthropies, 5.1, 5.2, 5.3

  Feinberg, Kenneth, prl.1

  Feld, Al

  Feldman, Albert, 5.1, 5.2

  FICO, 18.1, 19.1

  Fife, Eugene, 14.1, 14.2, 15.1

  Finance, 6.1, 6.2

  Financial and Industrial Securities Corporation, 2.1, 2.2, 2.3, 2.4, 2.5

  financial crisis (2008), 3.1, 22.1

  Goldman Sachs’s avoidance of worst of, prl.1, prl.2, prl.3, prl.4, prl.5, 18.1, 22.1, 23.1; see also “big short”

  Goldman Sachs’s exacerbation of, prl.1, prl.2, prl.3, 3.1, 16.1, 18.1

  Henry Paulson’s fears of

  leverage used in

  see also housing bubble

  Financial Crisis Inquiry Commission, 19.1, 22.1, 23.1

  Financial News, 16.1, 20.1

  financial system:

  as engine of growth

  evolution of

  gambling analogy of

  government regulation of

  taxpayer bailout of, prl.1

  see also housing bubble

  Financial Times, prl.1, 15.1, 24.1, 24.2

  First Boston, 4.1, 8.1, 9.1, 12.1, 18.1

  First Colony Life Insurance

  First Franklin Financial Corp.

  First National Bank of Nevada

  First National City Bank, 7.1, 7.2

  Fisher, Peter, 16.1, 16.2

  Fiske, Robert, Jr., 11.1, 11.2

  Fitch, 18.1, 21.1

  Flick, Jim

  Florida land bubble

  Flowers, J. Christopher, 16.1, 16.2, 16.3, 16.4, 17.1

  Flynn, Edward

  Forbes, 10.1, 12.1, 12.2, 12.3, 18.1

  Ford, Gerald

  Ford, Henry, 4.1, 4.2, 8.1

  Ford, Henry, II, 4.1, 4.2, 4.3

  Ford, Mrs. Edsel, 4.1, 4.2

  Ford, William Clay, Jr., 17.1, 17.2

  Ford Foundation, 4.1, 4.2, 8.1

  Ford Motor Company, 5.1, 6.1, 6.2, 7.1, 17.1

  IPO of, 4.1, 5.1, 5.2, 8.1, 12.1

  foreclosures

  foreign exchange trading

  Forester, Doug

  Forster, Andrew, 23.1, 23.2, 23.3, 23.4, 23.5, 23.6

  Forstmann Little

  Fortress Investment Group

  Fortune, 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 4.1, 4.2, 11.1, 15.1, 17.1, 17.2, 22.1, 22.2, 23.1

  Foster, William Trufant, 2.1, 2.2

  Foster Grant Corporation

  Fowler, Henry “Joe,” 6.1, 8.1, 9.1, 13.1

  franc, 14.1, 14.2

  France, 1.1, 14.1

  Frank, Barney

  Frank, Walter, 5.1, 7.1

  Franklin Savings Bank

  Franks, Bob

  Freakonomics (Dubner and Levitt), 20.1

  Freddie Mac, 18.1, 18.2

  Fredman, Sheara

  Freedman, Alix

  Freeman, Margo

  Freeman, Robert, 11.1, 11.2, 15.1

  hiring of

  insider trading scandal of, 11.1, 11.2, 11.3, 11.4, 11.5, 11.6, 12.1, 12.2, 12.3, 14.1, 14.2

  Fremont General, 21.1, 21.2

  Fremont Investment and Loan, prl.1, 18.1

  Friedman, Barbara Benioff, 9.1, 14.1, 14.2, 14.3

  Friedman, Richard A., prl.1

  Friedman, Robert A.

  Friedman, Steve, 7.1, 9.1, 9.2, 9.3, 10.1, 10.2, 12.1, 12.2, 12.3, 12.4, 12.5, 13.1, 13.2, 14.1, 14.2, 14.3, 14.4, 14.5, 15.1, 16.1, 17.1, 17.2, 17.3, 24.1

  background

  Eisenberg’s sexual scandal and

  health problems of, 14.1, 14.2

  hired at Goldman Sachs

  insider trading scandal and, 11.1, 11.2

  made co-chairman, 12.1, 12.2

  made vice chairman, 9.1, 12.1

  and move to go public, 10.1, 10.2, 14.1

  1987 crash and

  1994 losses and, 14.1, 14.2, 15.1

  as potential head of Goldman Sachs, 9.1, 10.1

  put in charge of fixed-income division, 10.1, 10.2

  retirement of, 14.1, 14.2

  as worried about derivatives

  Friedman & Friedman

  front-running, 16.1, 24.1

  Frost, Alan, 23.1, 23.2

  Fuld, Richard

  “full-doc” loans

  Fullerton, John, prl.1, prl.1

  Fundamental Investors, 7.1, 7.2

  Funston, Keith, 4.1, 4.2

  F. W. Woolworth Company

  Gadhafi, Mu‘ammar al-

  Galbraith, John Kenneth, 2.1, 2.2, 2.3, 2.4, 2.5

  Gang of Five, 5.1, 5.2

  Gant, Donald

  Gapper, John

  gasoline

  Gasvoda, Kevin, 19.1, 20.1

  GATT treaty

  Gaul, Paul

  Geissinger, John

  Geisst, Charles

  Geithner, Timothy, prl.1, 22.1

  General Atlantic

  General Cigar Company

  General Electric, 2.1, 3.1, 3.2, 3.3, 4.1, 7.1, 8.1, 9.1

  European bonds underwritten for

  RCA’s merger with, 10.1, 10.2

  General Foods Corporation, 2.1, 3.1, 3.2, 4.1, 4.2, 10.1

  General Motors

  General Re Corporation

  Gensler, Gary, 17.1, 18.1

  George, Edward

  Germany, 1.1, 3.1, 14.1, 14.2, 14.3

  Geronemus, Roy

  Gerst, David

  get-rich-quick schemes

  Getty Oil

  Gilbert, Cass

  Gilmour, James

  Giuliani, Rudolph, 11.1, 11.2, 11.3, 11.4, 11.5, 11.6, 11.7, 11.8, 11.9, 11.10

  Glass-Steagall Act (1932), 2.1, 4.1, 10.1, 16.1

  Glauber, Robert

  Glengarry Glen Ross (Mamet), 4.1

  Glenn, John

  Global Crossing

  gold, 3.1, 9.1, 9.2

  gold coins, 1.1, 1.2

  Goldfield, Jacob, 13.1, 13.2, 16.1

  Goldman, Bertha, 1.1, 1.2, 1.3

  Goldman, Henry, 1.1, 1.2, 2.1, 4.1

  Federal Reserve System designed by

  Germany supported by

  Goldman Sachs inherited by

  retirement of, 1.1, 1.2, 4.1

  as risk-taking

  Sears IPO handled by, 1.1, 1.2, 1.3

  underwriting and, 1.1, 1.2

  Goldman, Henry, Jr.

  Goldman, Julius

  Goldman, Louisa see Sachs, Louisa Goldman

  Goldman, Marcus

  in arrival to U.S.

  death of

  gold coins of

  IOUs bought and sold by, 1.1, 1.2, 1.3, 1.4, 1.5, 1.6, 5.1

  money for Jewish immigrants collected by

  Sam Sachs made partner of, 1.1, 1.2

  Goldman, Rebecca

  Goldman, Rosa see Sachs, Rosa Goldman

  Goldman, Sachs & Dreyfus

  Goldman Sachs:

  “Ad Hoc Profit Maximization Committee” at, 12.1, 12.2

  Administrative Department of

  American Cyanamid Corporation lawsuit against

  annual budgeting at

  antitrust lawsuit against, 4.1, 8.1

  arbitrage department of, 5.1, 5.2, 5.3, 5.4, 6.1, 6.2, 6.3, 6.4, 7.1, 7.2, 9.1, 9.2, 10.1, 11.1, 11.2, 11.3, 12.1, 15.1; see also Levy, Gustave Lehmann; Rubin, Robert

  bad news not shared by, 7.1, 7.2, 7.3; see also “big short”

  in battles with other companies

  board of directors at, 17.1, 17.2, 22.1

  bond department of, 3.1, 3.2, 5.1, 5.2, 10.1, 10.2, 14.1

  Bouton’s potential lawsuit against

  branch offices of, 3.1, 4.1

  Broad Street building of, 4.1, 5.1, 6.1, 7.1

  Buffett’s loan to, prl.1, prl.2

  business department of

  Busine
ss Standards Committee of, 24.1, 24.2

  Buying Department of, 7.1, 7.2, 7.3

  calling effort of

  capital of, 1.1, 1.2, 4.1, 4.2, 5.1, 5.2, 6.1, 7.1, 9.1, 10.1, 10.2, 12.1, 12.2, 12.3, 14.1, 14.2, 14.3, 15.1, 15.2, 15.3, 16.1

  Capital Structure Franchise Trading Group of

  Catching’s company created for

  Catching’s power grab at

  collusion accusations against

  commercial paper traded by, 1.1, 1.2, 1.3, 1.4; see also commercial paper

  compensation at, prl.1, prl.2, prl.3, prl.4, 5.1, 7.1, 7.2

  competitiveness at

  confidentiality and nondisparagement agreements at, prl.1

  conflict management by, prl.1, 15.1, 17.1

  Corporate Finance Department of, 7.1, 7.2, 7.3, 17.1

  Corzine’s desire to enlarge

  in crash of 1929, 2.1, 2.2, 2.3, 2.4, 3.1

  Depression strategy of, prl.1, 3.1

  discipline at

  85 Broad Street building of, prl.1, 8.1, 10.1, 10.2, 17.1

  envy of

  ethical code of, prl.1, 8.1, 16.1, 17.1

  Executive Committee of, 15.1, 16.1, 16.2, 16.3, 16.4

  factors in prowess of

  as family business

  fear of

  Financial Institutions Group of (FIG), 15.1, 15.2, 16.1, 16.2, 16.3, 16.4, 16.5, 16.6

  fine paid by

  Firmwide Risk Committee at

  Fixed-Income, Currencies and Commodities (FICC) at, 14.1, 16.1, 17.1, 17.2, 17.3, 17.4, 17.5, 19.1

  fixed-income division of, 10.1, 10.2, 10.3, 12.1, 12.2, 12.3, 13.1, 14.1, 14.2, 14.3, 14.4, 15.1, 15.2, 15.3, 16.1, 17.1

  Ford IPO handled by, 4.1, 5.1, 5.2, 8.1, 12.1

  foreign exchange department of, 1.1, 9.1, 14.1, 15.1, 15.2, 17.1

  “great rehabilitation” of, 3.1, 3.2

  hot IPO’s distributed by

  hundredth anniversary of

  internal e-mails of, prl.1, prl.2, prl.3, prl.4

  International Advisory Committee of

  international expansion of, 8.1, 12.1, 12.2, 14.1, 14.2, 14.3, 14.4, 15.1, 15.2, 15.3, 16.1, 17.1, 17.2

  interview process at

  investment banking of, prl.1, prl.2, 3.1, 4.1, 4.2, 4.3, 4.4, 5.1, 6.1, 7.1, 7.2, 8.1, 8.2, 8.3, 9.1, 9.2, 10.1, 10.2, 14.1, 14.2, 15.1, 15.2, 16.1, 18.1; see also investment banking

  Investment Banking Services (IBS)

  investment trusts of, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 4.1, 5.1, 8.1, 9.1

  J. Aron & Company acquired by, 9.1, 9.2, 14.1

  as Jewish firm, 1.1, 8.1, 8.2, 14.1, 18.1

  jokes about, 2.1, 3.1

  and lack of high-level relationships in Washington

  layoffs at

  leverage used by, 2.1, 15.1

  liquidity of, 14.1, 15.1, 16.1

  major acquisitions shunned by

  Management Committee, 5.1, 5.2, 7.1, 7.2, 8.1, 8.2, 8.3, 9.1, 9.2, 9.3, 9.4, 10.1, 10.2, 11.1, 11.2, 12.1, 12.2, 12.3, 14.1, 14.2, 14.3, 14.4, 14.5, 14.6, 14.7, 14.8, 15.1, 16.1, 16.2, 16.3, 16.4, 17.1, 22.1

  as “mark-to-market” firm, prl.1, prl.2, prl.3, prl.4, 19.1, 22.1, 22.2

  Maxwell lawsuit against

 

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