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Evercore Partners Inc. Message Board

  • newconvention newconvention Jan 25, 2012 11:27 AM Flag

    Evercore won't fight for it's clients

    I would not want to be a customer at Evercore Partners today after finding out the company will not fight for it's customers money:

    "I liked the speech," said Roger Altman, chairman of investment advisory group Evercore. "I can understand why some people in the business community, particularly gauging the reaction to it, may not like it. But I thought it was a reasonable speech.

    "It's actually a relatively moderate speech by historical standards. Has the president taken a move on the spectrum towards more populism? Yes. Is it an extreme move, or a big move by historical standards? I don't really thing so," he said.

    As for the 30 percent minimum millionaire's tax proposal - known as the "Buffett tax" because it is favoured by billionaire Warren Buffett - Altman said: "Speaking for myself, I find that hard to argue with."

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    • Learn something about Roger Altman - he is a super liberal like many on Wall Street, had aspirations of being a democrap Treasury Secretary until he got caught in some [olitica troubles. Many Wall Street I bankers are very liberal, they make their money fast and huge and therefore, like movie stars, feel liberal guilt about it. That said, Altman is also a hypocrite, as the typical private equity guy isn't paying normal income tax like the rest of us. He's getting "carried interest" in private equity as his salary and paying the low capital gains rate of 15% on this income.

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