Will the Hanky-Panke Wall Street bailout plan work? Yesterday the Wall Street Journal teamed up with the Yale School of Management to gather together more than 30 financial power players for a roundtable on the credit crisis at the Waldorf-Astoria Tuesday. From the WSJ’s DealJournal:
The gathered luminaries included Wilbur Ross and Blackstone Group’s Stephen Schwarzman, former SEC Chairman William Donaldson, Thomas H. Lee Partners co-president Scott Schoen, Credit Suisse chief executive of investment banking Paul Calello; Marsh & McLennan CEO Brian Duperreault, Holland & Co. Chairman Michael Holland, Credit Suisse Alternative Investments chief operating officer George Hornig; MBIA CEO Jay Brown; Allen & Co. banker Nancy Peretsman (who is married to man-of-the-moment Robert Scully); corporate governance gadfly Nell Minnow, Corsair Capital vice chairman Richard Thornburg and a Yale professorial contingent that included moderator Jeffrey Sonnenfeld, economics professor Robert Shiller, Jonathan GS Koppell and Jonathan Macey.
We weren’t privy to the discussions. (Presumably our invitation got lost in the mail.) But Deal Journal reports they took an electronic, secret-ballot vote on whether the plan would work. The results were a tie—50% said yes, and 50% said no.
Judging from participants comments, however, DealJournal figures that Schwarzman, Ross and Donaldson appeared to have voted “yes.” Yale’s Macey was a no.
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