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Former Drexel Burnham Lambert Chief Fred Joseph Has Died
Fred Joseph, former Drexel head, avid bowhunter and (not least) personal friend and colleague to some of us at Zero Hedge, has died at 72.
Zero Hedge's thoughts are with his family today.
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When are we going to start hearing about death by 'jumping out his office window'?
Maybe he was a good guy on Wall Street. But for the rest of 'em: "Jump, you f*ckers!"
seriously? cmon...
Ah, yes. "First thing we do, let's kill all the bankers."
Let me just take a moment to say that not only do I consider your commentary representative of the very pinnacle of enlightened prose and possessed of an innate sense of justice worthy of Solomon, but your timing and sense of context in placing it in the comments here simply cements your place amongst those lauded through the ages for their exquisite displays of decorum and manners.
+ x (where X equals the amount of dollars Ben Bernanke prints during his time as Fed Chairman)
In my Jovian, but not jovial perspective, it is my exquisite desire to elevate this discourse through the not-so-egregrious proclamation, befitting only those erudite readers of this unique literary venue, that the violence purveyed by the respective commentary should not proliferate and instead should best remain endemic.
If people were able to correctly focus these problems would have been fixed eons ago. The ability for the world to disperse focus is it's greatest asset. Sorry for your loss.
I interviewed with FJ in 1985. Mike Milken had an idea that there was value in LDC debt. He was proven right about that. Fred was interested too. We were in 60 Broad, across the street from the big shots. But Fred would come over and look at what we were doing from time to time. His interest brought investors. That story had a happy ending.
The picture above is perfect. I never saw him without the smile. Not even January of 1990.
Bravo Marla, thanks for eloquently reminding us that at least, the founders of this oftern brilliant site are on the side of decency and compassion.
"Often brilliant?" Had you traded on the site's "point of view," they would have carried you out in a box.
"Brilliant"-----give me a break.
Good boxer, good archery deer hunter. He still threw the Drexel sales force out, (I can't ever forget the abuse he took on the firms squawk box in 1989) and ran DBL shareholders into ZERO equity.
RIP Fred.
I had the pleasure of working with Fred at Furman Selz / ING Barings from 1998-2001. He was an excellent banker and a better person. Unfortunately, he is an anomaly in today's banking world. RIP.
Animals hunted with a bow are subjected to cruel, slow deaths while hunters view themselves as "real men."
I hope he suffered before he died and am glad he's dead--not to mention Drexcel was a bastion of criminality that has carried on today in different forms.
Your ignorance of hunting can only be matched by cruel disdain for humanity and its place in the ecosystem. You need to quit sucking at the tit of PETA.
And, where is your place? Firmly entrenched in front of your e-trade account?
i love you shylock....:)
Maybe not the place, but in the world species hunt species and eat their prey alive. In the human economic world prey is either starved or killed by proxie.
( from a hunter)
I very rarely want to use the term "scumbag" to refer to our registered users. I'll let you figure the rest out.
Blow me. Your site is a piece of shit, anyway. You have been wrong for a year. Your record is worse than Fleckensteins---he was right after four years of being wrong.
How long did it take you to decide on that number in your name?
I see you've set aside this special time to humiliate yourself in public
not to mention their relationships with new york organized crime which is mentioned in full on deepcapture blog....
Didn't know Fred. All I know is that Milken's people never bid back their junk. God that used to piss me off.
The point was not to show incredible insensitivity.
A paradigm shift is needed, and glorifying those who were incredibly successful under the paradigm to be replaced serves little purpose, IMO.
At this moment, what you believe or don't believe is irrelevant. This isn't about you, or your beliefs.
This man was someones father, husband, friend and colleague.
He was also clearly a friend to those who work their butts off to bring you the quality of work that is exhibited on this site daily. Given what they provide you daily, at minimum have a modicum of respect for their loss.
.
where did you learn how to be like that? on the market ticker?
The market ticker traditionally tends to be far more twisted whereas the flight path of Lizzy36's arrow is direct and true.
I said "Maybe he was a good guy on Wall Street"
It was not disingenuous or sarcastic, so I don't know what the big deal is, in that I hope we can fix all the problems that Wall Street bankers have helped either create or amplify.
drexel burnham lambert? hmmm, the junk bond kings.....
Regardless of time or station leadership and the values that are closely associated with it always find their way to the forefront. Fred Joseph exemplified this principle in action throughout his professional and personal life. At all times, most especially during transition and challenge we must endeavor to remember such leadership and do our utmost to pass the lessons learned from such fine persons as Fred Joseph along so that they may never be forgotten.
I have to be honest and say that I have no professional or personal experience of Fred Joseph. However, I must say that I can't believe some of the cheap and vitriolic filled comments posted on here today. The guy was in his 70s and had more experience and knowledge than most on here can only dream of, and as such, should be given due respect. From some of the complimentary posts it seems he was very much of the 'old school', and it's a pity that some of the of this old style isn't more abundent nowadays....but I guess that's progress!!!!! Whatever happened to repecting your elders and not speaking ill of the dead. RIP Fred Joseph.
Milkin's great insight was that bond holders could be screwed in favor or equity holders and that new bond holders could be brought in to take another drubbing down the road. Along the way equity holders, some, could get their head handed to them to. The magic of liquidity for paper. There is far more money around than good investements but the justifications for the need for so called investment, in paper, never ends. From time to time the government will print up to replace what's lost and rewrite the accounting rules to cover the rest.
It isn't so bad really. Even the nicest people do it.
Trumptastic!
Marla and Lizzy,
Thank you both for the much needed moderation of some of the ill-advised and unsavoury comments. While I certainly have no love in my heart for the banksters, these knee-jerk reactions to lump an entire profession into a pre-conceived mold of evil does nothing to advance the discourse here. Maybe it's just something in the water today, but between this post and the others filled with right wing rhetoric, it's been a real unusual day. Or maybe it's just me.
agree with bowhunter comment. such people are sad, insecure, little sadists masquerading as fearless hominid predators. how wonderful it would be if one of their arrows would find its mark in their own soft gut. now what a sight to behold that would be!
I met a (former) bowhunter a couple of years ago in SD who recounted this tale. He gutshot a young doe and tracked her for hours. Finally she stumbled and collapsed. As he knelt beside her she raised her beautiful head and looked deeply "into his soul" before falling back and dying. He told me that he wept for hours by her body. He vowed never again to harm a sentient being and renounced his "sport" forever. He also admitted that he was still haunted by nightmares from this memory.
Well at least some "hunters" have a conscience.
My thanks to the always excellent ZH team to allow heartfelt comments on such issues of morality, humanity and decency... issues which ultimately do indeed have a clear direct bearing on the (perhaps) apocalyptic financial events we see unfolding before us today.
What are you, a vegetarian? You pansies are in total disconnect. Ever eat a hamburger? Next time you gotta chop some carrots say a little prayer and cry a little tear.
Waterwings; actually yes a vegetarian. Interesting of you to immediately volunteer aggression (and therefore guilt) surrounding your own gender "preference." I suspect many hunters have the same gnawing, deep-seated and painful issues regarding their own "masculinity" which drive them towards violence against defenseless animals, children etc. There is a lot of data which supports this contention. Go and Google it in the privacy of your own home if you like. There may be a telling reason for your apparent aversion to introspection WW.
ZH is rather like an analyst's couch for some.....But spare us all a renewed and defensive rant WW. Live and let live brother. As long as what you do doesn't scare (or harm) the horses I shall keep Mum about it. Guilt-ridden and fragile "masculinity" abounds it seems on ZH and elsewhere.
Solid Gold!
I read all this and I think, yes, rant is the operating word. And I've never even been hunting before! You're are like an analyst - drawing stick figures on your notepad.
I mean the irony of your post, on this site, considering its theme. Solid Gold! Have you even seen Fight Club? Read the book? Put away your textbooks and get some fresh air.
hahahahah, waterwings dude... he nailed you!
rant - to speak or write in an angry or violent manner.
thats you dude. be honest enough to admit it. you NEED analysis!
jace435
Oh, it's just really ironic. That's all, anon pansy. Sign in next time. Nice try with the definition.
Is this you?
http://c3.ac-images.myspacecdn.com/images01/53/l_ad3b5088317d1b0b86aa0f5...
Or maybe this guy?
http://i.telegraph.co.uk/telegraph/multimedia/archive/01532/passenger_15...
No, wait. Found ya:
http://www.youtube.com/user/Fred#p/u/23/ypO4MLGFxYY
nice try waterwings.... thou doth protest too much. you are very unconvincing. do you give or receive. go on chief, this may prove therapeutic for you. better replace cork and mince away.
bigDAWg
Hhhhhmmm wwings has issues..... freakin' f$g man. get help.
i think waterwings receives, cos he is really REALLY torked off. the truth hurts i guess. relax WW we are your friends... we wont turn you in.hahahahahah! wait till chumbah et al hear about this.
dork4
waterwings is a wiiiiiiiiiiiiiiide receiver. hohohohohoh
hehehehehehe. self-incrimination..... they do it every time.
MADmax