Steve Schwarzman Mocked Bank Of America Last Night And Even Brian Moynihan Had To Laugh

stephen schwarzman blackstone banana

Steve Schwarzman might not have written the joke he told last night while giving the keynote speech at the Alfred E. Smith Memorial Foundation Dinner (an annual Catholic charity fund-raiser named in honour of the former governor of New York), but his delivery must have been great. 

The joke, which was about BofA’s capital level, even made the butt of the joke, Brian Moynihan, the CEO of BofA, laugh, according to Dealbook, which also says that it “brought the house down.”

And that’s impressive because Moynihan has not taken more serious criticism that BofA might be underfunded lightly in the past

The joke, as told by Dealbook

Brian Moynihan is here tonight. He’s the C.E.O. of Bank of America. As many of you know, Brian’s brother Patrick runs a Catholic boarding school in Haiti. Their parents must be so proud to see two of their boys running an underfunded, nonprofit organisation.” 

Whoever at Blackstone wrote it — it wasn’t necessarily Schwarzman. Dealbook says “Blackstone staff members [including John Studzinski] took weeks to write the speech — nice one! 

Bonus points for whoever delivers the best come-back about Blackstone. The photo above and Blackstone’s 3Q earnings might provide some inspiring material should you require it.

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