Goldman Sachs Capital Partners

I also knew what it felt like to be afraid of losing your company, because IБЂ™d had that fear in 1994 at Goldman Sachs, when big trading losses had caused many spooked partners to withdraw their capital. Tim had already explained the governmentБЂ™s plan to Bear CEO Alan Schwartz, but he was worried that Alan hadnБЂ™t completely grasped the consequences. The government didnБЂ™t put taxpayer money at risk without expecting something in returnБЂ”in this case, essentially, control. БЂњLetБЂ™s make sure he understands, Hank,БЂ«I remember Tim saying. БЂњYou need to speak to him with force and clarity so he hears it from you and not just me.БЂ«When I reached Alan, he sounded rattled, but it was clear that he was doing his best. I had great sympathy for him. He was a good investment banker and a highly regarded adviser to companies who had been thrust into a terrible situation that did not play to his strengths. When I called, heБЂ™d been meeting with his board, which was a fractious group. БЂњAlan,БЂ«I said, БЂњyouБЂ™re in the governmentБЂ™s hands now ...»