In the Goldman emails released by Goldman and the Senate last weekend before the hearing, one salesman singled out for being awesome is “Cactus” Raazi.His real name is Mehra Cactus Raazi and at least twice, his boss, Dan Sparks, tells Cactus he’s a star and CCs a number of other managers, including Goldman’s head honcho.
In mid-March 2007, one of the emails “Cactus Delivers” gets all the way to Lloyd Blankfein. It says, “Cactus did a fantastic job for the desk by bringing in $1.2 BB in A-rated single names today.”
A couple of weeks later, on March 28th, a huge email went out to “T-Mail Subscribers,” saying “GREAT JOB CACTUS RAAZI TRADING US OUT OF OUR ENTIRE TIMBERWOLF SINGLE-A POSITION — $16MM.” (It’s on page 457.)
Remeber Timberwolf was the infamous “shitty deal,” and one of the deals put together by Greywolf, a group founded by a bunch of ex-Goldman bond traders.
And since Cactus Raazi also worked on ABACUS and met at least once with John Paulson, he sold some of Goldman’s toughest products, which is probably why Goldman brought him on in the first place, considering his strange magazine Ad-salesman background. Before moving to Goldman in 1998, Raazi was an ad salesman for “Rolling Stone” magazine and other Wenner Media publications, according to Reuters.
Here’s more evidence of his awesome-ness. Fabrice Tourre deferred the difficult job to Cactus when the firm was interested in asking Paulson to consider unwinding ABACUS on April 23 2007 (Because ABN Amro, the firm that eventually sold ABACUS protection to Paulson, was interested in “taking off the entire trade” or finding hedges for the risk it was taking on with ABACUS. It’s on page 641.) Asking Paulson to unwind ABACUS probably wasn’t the easiest job, considering it was basically Paulson’s baby and especially because it didn’t work – Goldman in the end convinced ABN to insure ACA and ABACUS wasn’t unwound until August 2008.
Sadly we’re not able to find a photo of Goldman’s star salesman Cactus Raazi, just a tiny tip on a Samohia alumni website that says,
“I live and work in NYC with my son but we visit SM regularly. My 10yr anniversary party was a great time – looking forward to the 20th!”
For more on Cactus, read this article about him in Reuters.