Where'd the good times go?
Blackstone founder Stephen Schwarzman has expressed some contrition over his February 2007 birthday bash. The celebrity studded $3M dollar event that took place on Valentines Day, 2007, was Schwarzman's coronation as the new king of Wall Street. With the private equity wagon (temporarily) tipped over and Blackstone's stock down 75% , Schwarzman now prefers not to be held up as a symbol of 'that period of time'. After that super-sweet 60th birthday, he decided to have a much lower key 61st.
No sweat Stevy, we still love you even if you no longer throw kick-ass parties.
Honestly what are you getting at with this post? Are you saying Schwarzman is not at fault? Are you saying he is? No one should be making as much as him. Wall Street pay should be capped, it doesn't even need to be a low cap how about $30 million a year? Thats a pretty good cap and plenty of money, while still not getting crazy.
No it does not need to be capped.
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