so we all know that wall street's a big club and we're in 1977
everything in the world of finance would change it all began in 1977 when bank of america and
salmon brothers created the first tranche by betting on clients credit for the very first time
also the pioneer of the mortgage-backed security salmon brothers was a contributing factor to the
2008 financial crisis by all of its innovative technologies that it created in the 1970s
and 1980s they were a leading innovator in advanced trading technology
and the charge was led by many relevant names that you will recognize that are still in play today
let's go and take a look at some of the important roles in some of the important people that are
involved in salomon and just how much the breadth and scope is of their reign over the markets
first on the list is michael bloomberg a name that you're probably very familiar with
michael bloomberg worked for salomon in the 70s and early 80s where he was fired
he was responsible for financial development and was a key contributing factor in the
developmental technologies that took place in the 70s and 80s for solomon brothers
after solomon he went on to create one of the largest news organizations still today in 2021
created the bloomberg index as well as the bloomberg terminal he also served
as the mayor of new york city in the early 2000s interestingly enough the primaries that were held
for the first ballot that he was up for election for was scheduled for none other
than september 11 2001 which obviously had to be rescheduled due to the attacks
michael stockman back then a mortgage trader at salomon went on to work at places like goldman
sachs morgan stanley which will be a common theme that you'll see with a lot of these alumni from
salomon and then he moved on to where he is now the chief risk officer at mf global
john bass back then was the managing director overseeing fixed income operations in sales at
salomon brothers and later citigroup when it was acquired back in 1998 during the big bang mergers
now just as previously mentioned we now have collusion at mf
global as we have a second alumni now after michael stockman being john bass who also
is at mf global and he is the global head of institutional sales
john livski back then the director of salomon's european economic and market analysis group
until 1992 later would join chase manhattan bank followed by jp morgan
where he would then move on to imf group where he would retire in 2011 as the managing director
andrew stone got his start as a mortgage trader at salomon brothers and was featured in liar
poke liars poker a book written by michael lewis someone will bring up later for his
cunning ability to negotiate a higher salary as a starting analyst with salmon brothers
after salman brothers he went to prudential then iowa securities where he built up the mortgage and
assets backed securities department following that he was at first boston credit suisse
which would later be acquired by credit suisse international
now he works at what redwood trust where he resides as a chairman today louis ranieri
is no other than the father of mortgage-backed securities he also headed the mortgage bonds
desk at salomon brothers and was considered by many to be the father of mortgage securitization
he left salman in 1987. after that he bought bank trust in the early 90s
and as the time of this document had partnered with shellpoint partners in about 2012
and was also considered to be one of the primary contributors of the 2008 financial crisis
myron scholes is one of the more important alumni to take note of before joining solomon in 1990
he developed the black scholes model where he received a nobel prize for doing so it's still
today considered one of the most noteworthy and revolutionary models in financial theory
because this mathematical equation estimates the theoretical value of derivatives and we all know
the mass amounts of derivatives that are in the market right now is the primary factor in why
we are gridlocked and the feds up against the wall it's estimated that there is around 600 trillion
dollars in derivatives in today's financial markets well all of that stems from myron
shoals and his model and it was incorporated into the salomon brothers culture who happened
to be the dominant figure in wall street during the time not only that but they did lead the way
in revolutionary trading technologies and advanced systems after joining salomon
or after leaving salomon being the managing director for fixed income derivatives he then
went on to long-term capital which collapsed at the brink of the big bang merger in 1998.
the derivatives we see today are likely all due to this man's idea of the black skulls model
currently residing at nika partners tom miglis
was a big primary factor in the creation of citadel's award-winning technology quote unquote
miglas got his start at salmon brothers in the 80s and was the chief managing director at the time
he was responsible for managing tech systems and development
and they were in desperate need of hardcore technology as during that time there was a
race for such technology in the financial markets later in the early 2000s he would work with kenny
griffin from citadel to create what makes citadel thrive today their technological advances that
allow them to do things such as convertible bond arbitrage algorithms and other financial tech
that was teamed by tom miglis and ken griffin in the eighties to create what we see today
the monster of citadel where now it takes up the majority of options volume on the exchanges
david salomon a junk bond trader at salomon brothers during the 1980s
is now the current ceo of goldman sachs between that time period in the late 90s he helped
pioneer the big bang merger of travelers group and citigroup which ultimately led to the creation of
salomon smith barney which happens to be the underwriter for gamestop so the ceo of goldman
sachs used to be a junk bond trader in the 1980s for salomon and now he resides as the
top position of one of the most powerful banks on the planet time in between there also included
a brief transitionary period where he worked at none other than bear stearns
jamie dimon first became relevant with the salmon brothers in 1986 when he began managing
financial operations at primerica and salomon brothers he would later become the president
of travelers group in 1993 where he worked with david solomon later in 1998 to complete
the merger of travelers group and citigroup which would later become salman smith barney
now jamie dimon is the ceo of the second most powerful bank on the planet jp morgan chase
robert ginsler was a bond trader at salomon brothers in the 1980s and interestingly enough
has a twin brother that we all know very well gary kinsler the former cftc chair
former secretary of the treasury or assistant secretary of the treasury
and of course today is the current securities and exchange commission chairman robert ginsler
went on to work at t rowe price and during the time at his solomon brothers career
his twin brother gary gensler was working at goldman sachs at the time and gary robert ginsler
would later go on to t rowe price who is now currently long on gamestop interestingly enough
michael corbott who also started his career at salomon brothers would later become the
citigroup global market ceo where he would reside as ceo until february of this year 2021 after the
january events and of course we all know that citigroup global markets ends up being salomon
brothers because after the travelers group and city group merger in 1998 the name became salomon
smith barney which would later be dropped in 2009 after a series of ipo fraud scandals
muhammad l aryan began working as salomon smith barney in the private sector in london after the
merger in 1998. he would later become part of the faculty at harvard business school
in the early 2000s and then in 2012 was appointed to the global development council
by barack obama where he currently resides as the chairman today as a member of the white house
warren buffett one of the largest shareholders of salomon in the late 80s had an interesting
task once the bond scandal of 1988 and the hearing of such scandal commenced in 1991 alan greenspan
the federal chair at the time called upon warren buffett to come in take over salomon
and reform the company after a treasury scandal was founded by one of the traders from salmon
brothers where they were trying to corner the bond market and basically cause a short squeeze
after that was found out warren buffett was called upon by alan greenspan
to join the chair of salomon reform the company
as this was the first example in financial history of too big to fail as far as modern times
so once joining the board of salmon brothers he was basically left to sweep up the mess that
was created and warren buffett at the time also provided a five billion dollar bailout to goldman
so warren buffett himself found himself in a position where he was bailing out two of
the biggest banks on wall street at the time and now he sits on the ceo and chair of the largest
ticker on wall street berkshire hathaway and is also the largest shareholder of such company
jerome h powell was also involved in the salomon brothers bond scandal of 1991.
he oversaw the settlement and punishment and investigation of the salomon bronze bond scandal
of the 1980s and early 1990s the settlement one hundred thousand dollars remember this was the
first instance where the public was aware that wall street had committed fraudulent activities
and they were giving a charade by putting on a public hearing
where everything would be solved by none other than warren buffett
clearly making it known that the government at the time had no idea how the financial markets worked
jerome would later help raise the debt ceiling crisis in 2011 and now in 2021 facing a very
similar situation but a lot worse jerome powell is now our federal reserve chairman
full circle if all of this hasn't been enough for you the 911 connections run deep within salomon
before we get to world trade center 7 let's take a look at the other trade centers one
world trade center or the north tower included the port authority of new york and new jersey
marsh and mclennan companies bank of america cantor fitzgerald sidley austin brown and wood and
restaurant windows of the world two world trade center south tower included verizon the new york
stock exchange morgan stanley xerox corporation keefe bruyette and woods aeon corporation
and fiduciary trust company international five wtc included credit suisse first boston which
would later become credit suisse international and morgan stanley six wtc included the united
states department of commerce bureau of alcohol tobacco firearms and explosives and the united
states department of labor and lastly seven wtc included salomon smith barney owning a whopping 76
of the floor space during the 2011 or 2001 attacks also by the u.s securities
and exchange commission standard chartered bank secret service cia and american express
the building was suddenly acquired by salman brothers prior to the 1991 hearing over the bond
scandal so it happened right after the scandal was found out but right before the hearing of 1991.
prior to the hearing the building was renovated by creating a building within a building
in the early 1990 the sec also made renovations including adding nine
diesel generators on the fifth floor as well as removing floors altogether
so let's recap salomon brothers partnered with bear stearns merrill lynch and shearson lehman
in the 70s also known as the fearsome foursome on wall street at the time
who were all partnering with ipos later in the 70s salomon brothers created the first
tranche with brink of america by betting on client risk for the very first time in 1977.
salman brothers alumni included michael lewis the creator of big short and liars poker
also the creator of the first mortgage-backed security
renery the pioneer of derivatives which led to the birth of citadel tech being myron scholes
the primary tennis to the world trade center seven being solomon smith barney
pioneered by jamie dimon and david solomon ceos of goldman sachs and jp morgan and then
later the global expansion of currently held positions in places like goldman jp morgan
citigroup global markets ubsag which those two are both the underwriters for gamestop bnp paribas
the white house the treasury and the federal reserve and much much more solomon brothers was
the leading contributor to the flash crash of 1987 the 2008 financial crisis and likely what we're
seeing today as the massive amounts of derivatives again were pioneered by salomon brothers
salman brothers has always had close ties to the federal reserve system
and of course the leading investigator during the bond scandal of the 80s
was led none other by today's fed chair jerome powell so what does this all look like on paper
well it looks a little bit like this salmon brothers fearsome foursome and then everything
else here little mind map all the names or the alumni are going to be found right here
and i will link this in the description so you can take a look but yeah this is how connected it's
all been it all started seemingly from the first place salomon brothers which led to the pioneering
of derivatives which led to the creation of citadel's technology which led to the massive
amounts of share that they have in options market and the general market everything in orange here
is going to be a major corporation like jp morgan credit suisse morgan stanley imf group citigroup
global markets ubsag salomon smith barney the big bang of 1998 happens to be an event the only ones
that are not included are jp morgan and david sullivan i'm sorry david solomon and jamie dimon
who created basically or pioneered the biggest merger in history travelers group and city
so there you have it i'll link this below so you can take a bigger look but that's basically it
what a mess huh