"Mr. Schwarzman is no slouch at name-dropping, either. At an NBC appearance in 1987, he told network staffers that he knew GE Chairman Welch, that he had bought his Park Avenue apartment from the late Thornton Bradshaw, who headed former NBC parent RCA Corp., and that he and CBS's Mike Wallace shared a vacation home."
-- WSJ, 1990
From "On The Brink", Henry M. Paulson Jr. page 69.
"Indeed, I [Paulson] recall a dinner at the New York Fed on June 26, 2007, that was attended by the heads of some of Wall Street's biggest banks. All were concerned with excessive
risk taking in the markets and appalled by the erosion of underwriting standards. The bankers complained about all the covenant-lite loans and bridge loans they felt compelled by competitive pressure to make.
I remember Jamie Dimon, the JPMorgan chairman and CEO, saying that such loans, made mostly to private-equity firms, [This note writer's addition i.e. Blackstone] did not make sense, and his bank wouldn't be making any more of them. Lloyd Blankfein said Goldman, too would not enter into any such transactions. Steve Schwarzman, the CEO of Blackstone, a dominant private-equity firm, acknowledged he had been getting attractive terms and added that he wasn't in the business of turning down attractive money."
Schwarzman only got a salary of $350,000 and no bonus from Blackstone last year. He holds $458.8 million in vested Blackstone stock, and another $1 billion in unvested shares. (Bloomberg, 2/26/10).
January 201- CNBC interview - "Well, I think it's going to be tough to create jobs in an environment where there's hostility towards the financial institutions. I think there's a risk, if that continues, that they would lend less money rather than more money. And you really need credit flowing to be able to create jobs. So I think that's one major change. And I think there needs to be more civility in the discourse over financial institutions. I realize there are angry people. But using that anger to end up having financial institutions extend less credit, creating more of a problem for just, not only the US economy, but for the global economy, isn't optimal. I think, for jobs, that's also pretty naughty. And I think we're going to need some new initiatives. I think the president said some interesting things in terms of job creation. And I think the business community is going to have to take a different look at what their role is in job creation."