The Street's "angels"
Connections.
http://www.nytimes.com/2008/10/07/business/07save.html
They were Gary Parr and H. Rodgin Cohen, veterans of a specialized field whose members are in high demand these days: the business of advising financial firms. “No one alive has been through anything like this,” said Mr. Parr, a deputy chairman of Lazard, the independent investment bank.
Beginning late last year, these bankers and lawyers have been called in time and again to devise solutions for some of the nation’s most troubled financial firms. Nearly a year into the deepest mire of the credit squeeze, Mr. Parr, Mr. Cohen and a circle of other sought-after advisers, including Edward D. Herlihy of Wachtell, Lipton, Rosen & Katz, and Lee Meyerson of Simpson Thacher & Bartlett, are increasingly running into each other in boardroom after boardroom.
Sometimes, members of this club work side by side, as Mr. Parr and Mr. Cohen have done four times this year, for clients like Fannie Mae and Bear Stearns. At that Fannie Mae board meeting, held outside Washington, both men peppered Mr. Paulson and Mr. Bernanke with questions on behalf of the company’s board.
“Rodge and I have known each other for decades,” Mr. Parr said, “but it’s probably fair to say I’ve not seen him with such frequency as in recent months.”
The same people are being called in to save many firms and solve many problems.
So, there's this chart.
http://www.nytimes.com/2008/10/07/business/07save.html
They were Gary Parr and H. Rodgin Cohen, veterans of a specialized field whose members are in high demand these days: the business of advising financial firms. “No one alive has been through anything like this,” said Mr. Parr, a deputy chairman of Lazard, the independent investment bank.
Beginning late last year, these bankers and lawyers have been called in time and again to devise solutions for some of the nation’s most troubled financial firms. Nearly a year into the deepest mire of the credit squeeze, Mr. Parr, Mr. Cohen and a circle of other sought-after advisers, including Edward D. Herlihy of Wachtell, Lipton, Rosen & Katz, and Lee Meyerson of Simpson Thacher & Bartlett, are increasingly running into each other in boardroom after boardroom.
Sometimes, members of this club work side by side, as Mr. Parr and Mr. Cohen have done four times this year, for clients like Fannie Mae and Bear Stearns. At that Fannie Mae board meeting, held outside Washington, both men peppered Mr. Paulson and Mr. Bernanke with questions on behalf of the company’s board.
“Rodge and I have known each other for decades,” Mr. Parr said, “but it’s probably fair to say I’ve not seen him with such frequency as in recent months.”
The same people are being called in to save many firms and solve many problems.
So, there's this chart.