Wall street black hole, who are the Key player's ? profiles Lehman, Merill Lynch, Bank of America, AIG

by SOLARLIFE | September 16, 2008 at 02:25 am

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Robert Willumstad, chairman chief executive AIG, Quote:

If AIG went down, a number of banks' balance sheets would be mullered - there would a dangerous risk to the stability of the global financial system. source: BBC News

VIDEO Gov Paterson on AIG

Wall street, black hole creator's profile
You want to know, who decided what in the Insider wall street group, have a look to their profile. Amazing Richard Fuld chief executive Lehman Brothers had practical no influential positon in any other company, 30 years in the same company Lehman. A failure in crisis management ?

The "OLd-boys-network" broke apart 9/15.
Who are the new players? Where will they come from , U.S., China, Japan, South Korea, Russia, India ? What is the new profile ? One thing is for sure, the classic broker with his knowledge about virtual mortgage packaging or hiding hedging, or as Bush said Fancy wallstreet products is dead.

The Wall street broker leaving ....

in his stretched Lincoln town car is as dead, as the black color of the car reminds now of a black hole, sucking more and more Players in itself, digesting them in mergers.

Controlled demolition or "creative destruction Schumpeter / Harvard university"
The first time applied "controlled demoliton" of Lehman bros could however be a way out, making place for Real players with production know how "Henry Ford". A long time ago american warships showed up in front of Japan and forced them to destroy their big companies (Lehmans). A controlled demoliton of the big players blocking the development of Japan. The result the new guys could come Go create, one of them Akio Moriata the founder of Sony. Harvard professor Schumpeter, very famous at young students calls it the constructive destruction.

Profiles

Richard Fuld
Chief executive Lehman Brothers

One of the toughest bankers on Wall Street has steered Lehman through difficult times and last week was confident about its future, telling investors it had faced adversity before and each time emerged stronger. Fuld, 62 , who took over in 1994, led the firm after it was spun out of American Express and restored its fortunes after it was hit by the collapse of hedge fund Long-Term Capital Management in 1998. He has just failed to surmount the most difficult challenge of his career.

John Thain
Chief executive Merrill Lynch

John Thain has been chief executive of Merrill Lynch since last December. He said yesterday that when he took over at one of Wall Street's biggest investment banks he did not expect to sell it less than a year later. But Thain is no stranger to deal-making. He turned the New York Stock Exchange into the first transatlantic stockmarket in his three years at the helm, converting it from an ailing not-for-profit business into a public company and masterminding a takeover of bourse operator

Euronext.

Ken Lewis
Chairman, chief executive and president, Bank of America

Ken Lewis, chairman, chief executive and president of Bank of America, was all smiles at yesterday's press conference for the Merrill deal. He has long wanted to move America's largest consumer bank into investment banking. Lewis has developed a taste for banks weakened by the credit crunch. This year he bought the US mortgage lender Countrywide. The 61-year-old grew up in Georgia, the son of a nurse and an army sergeant. He is a graduate of Stanford's executive programme.

Robert Willumstad
Chairman and chief executive American International Group

Robert Willumstad took over the top job at leading insurer American International Group in June, saying he would review its assets in the coming months. "Nothing is off the table and there are no sacred cows," he said. But the world's largest insurer has seen its shares plunge in recent weeks as it reels from the effects of the credit crunch. Willumstad, 62, joined AIG from Citicorp, where he was known as a hands-on manager. He has spent his entire career in financial services. He grew up on Long Island and lives in New York.