Word: chairman
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...wake of the government's unprecedented take-over of insurance giant AIG, the shares were punished. Mack got in touch with the chairman of the Securities and Exchange Commission and the Treasury Secretary, and then sent out an e-mail to employees: "It's very clear to me," he wrote, "we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down...
...down," fumed John Mack, CEO of Morgan Stanley, in a memo to employees. "You should know that the Management Committee and I are taking every step possible to stop this irresponsible action in the market. We have talked to Secretary [Hank] Paulson and the Treasury. We have talked to Chairman [Chris] Cox and the SEC." Cox is listening, and is reportedly proposing a temporary ban on short selling, subject to approval by the SEC's commissioners. If short sellers could be rounded up and roasted as heretics to the true bull market religion, there'd be a rush of people...
...Paulson was nominated by President George W. Bush to assume the secretary's post in 2006 and unanimously confirmed by the U.S. Senate, replacing John Snow. Previously he had served as Chairman and CEO of investment banking giant Goldman Sachs from 1999 to 2006, during which he led the firm through a period of whopping growth. He embraced risk, taking on debt and betting big when the odds dictated it. Now he is charged with cleaning up the sizable mess left by an epidemic of risk-taking run amok...
...Paulson was raised in Barrington, Ill., outside Chicago, where he developed an abiding interest in wildlife and the environment. (He was later Chairman of the Board of the Nature Conservancy.) He went to college at Dartmouth, where earned the nickname "The Hammer" as a member of the school's football team. After graduating Phi Beta Kappa in 1968, he earned an MBA at Harvard before embarking on stints in the Department of Defense and as a White House aide under Richard Nixon...
...selected to be the Business School’s dean in April 2006 by then-University President Lawrence H. Summers. This followed an eight-month stint as interim dean of the Business School. Light has taken on a number of different roles during his time in Cambridge, including chairman of the finance unit and director of faculty planning. He is also a currently a director of the Harvard Management Company, the group that manages Harvard’s $36.9 billion endowment. Light, a highly-regarded scholar who has written extensively about structuring complex financial transaction, also took a brief leave...