A new book about Goldman Sachs by Vanity Fair contributing editor William Cohan reveals new details about some of the bank’s former honchos, like Hank Paulson and Jon Corzine.For example, among other things, we learn that Hank Paulson was not the best video-conference attendee.
We learn that Corzine was considered “a man of the people.”
And we learn that Goldman execs didn’t only battle verbally.
For example, back in the day, when Steve Friedman was in charge of the bank, he challenged one of his top executives, Paulson, to a wrestling match. Hilarious.
From this month’s Vanity Fair:
At an off-site in New York’s Westchester Cointy a few years after Paulson had joined Goldman, Friedman, once a national wrestling champion at Cornell, challenged Paulson, a former all-American lineman at Dartmouth, to a wrestling match. Paulson had done some intra-mural wrestling at Dartmouth, but hadn’t really wrestled since he was 18.
Still, he took one look at Friedman, who was smaller and lighter, and felt a bit sorry for him. Unbeknownst to him, however, Friedman was still working out regularly with the Cornell wrestling team at the Downtown Athletic Club.
“So I took him down, very quickly, with the fireman’s carry,” Paulson recalls. “The next thing I knew I was on my back. I’d never been pinned before. So I got angry. I thought, ‘This little guy, I don’t care if he is my boss, I’m going to pick him up, and I’m going to hurt him.’ I went back at him about five or six times. And I got pinned five or six times. The next morning when I was trying to get out of bed, it took all my pride and everything else to pretend like nothing had happened and to get out of bed and get dressed and get out there.”