14 December 2009

The Bankers Summit and Some Significant No-Shows

Some White House Banking summit.

A one on one with Jamie Dimon and a few second tier, TARP-bound moneylenders.

John Stumpf of Wells Fargo is running late but surely on his way. Tied up signing some last minute foreclosures. The opening topic must be how to spin 26% credit card interest rates as a consumer benefit.

Ken Lewis of Bank of America is there. LOL. Trying to pick up an unemployment check and cop a plea.

It appears that Goldman's Lloyd Blankfein, John Mack of Morgan Stanley, and Dick Parsons of Citgroup will not be able to make the meeting today with The One regarding executive pay and the failure to lend by the Wall Street Welfare Queens.

The excuses are not the usual: end of year performance reviews, too busy with the office redecorators, trying to settle the tab at Scores, on hold with the Neiman Marcus trophy-wife and office-chippy department, making plans to fix the Superbowl.

The boys were flying commerical to show their solidarity with the homeless people who fly coach, and are encountering traffic delays on their flights out of New York to Washington. Reagan National Airport is closed by fog. It doesn't get much more symbolic than that. Are Dulles and BWI are closed too? No. Jeez, these guys don't bother with alternate plans to visit the White House?

"We're sorry Timmy, but frankly the President DID call him a 'fat cat' last night on 60 Minutes. Did you really expect our guy to show up for coffee today like nothing happened? Larry had assured us that he knows his place. Besides, it worked better when he came up to see us the last time anyway."
It would be cool to be sitting at the gate with Lloyd. Think he is schmoozing there with the people? "Bagels and coffees for the terminal, on me."

Jamie did not condescend to act the plebe, and flew down in his corporate jet. And we do think Vikram was particularly ballsy in sending a delegate, executive figurehead, with a note that he is too busy negotiating the repayment of TARP in order to secure those year end bonuses for the troops.

Note to Lloyd and John and Dick, if you are traveling commercial from NYC to Washington in the winter, you take the train. And if flying you leave early or come down the night before, with dinner at The Palm. I recommend the peas and onions as your side. Carville hangs at the bar sometimes. He's a fun kind of guy.

It is always iffy when flying into National in the winter, except on Oligarch Express. Even Senators know that, and their feet barely touch the ground when they walk.

The Wall Street boys don't bother to show up for a command performance at the White House on some lame travel excuse, except for house banker and Treasury Secretary to be Jamie. Lloyd doesn't need to be Treasury Secretary because he already has one.

This is too good. You can't make this stuff up.