In zeal to laugh at Boston, Times leaves out part of the story
The Times today peered down its imperial nose at Boston and sneered, in its summation of the saga of Clark "Don't Call Me Karl" Rockefeller, who goes on trial tomorrow on charges of ne'er-do-wellness:
He told stories of growing up on Manhattan's Sutton Place, of getting into Yale at 14 and of his work as an astrophysicist, venture capitalist or movie producer, depending on his whim.And Boston listened. ...
This most erudite of cities, where Mr. Gerhartsreiter had made his home since 2006, will be watching closely when he goes on trial here this week, seeking an explanation of how he could have fooled his former wife, a graduate of Harvard Business School, and so many others for so long.
Oh, those wacky chowdaheads. What the Times left out was how New York listened, too. For that, we turn to Vanity Fair, which apparently doesn't mind pricking tender New York sensibilities:
Despite having neither a college degree nor any semblance of experience, Crowe was next hired to head a department in the U.S. offices of Nikko Securities, Ltd., on Wall Street, with an estimated annual base salary of $150,000. "Everyone was flabbergasted," says his former Phelps co-worker. "We could not even imagine how he got a job he was clearly not capable of handling." He was hired by a now deceased ex–Goldman Sachs executive, who "was taken by people who seemed to be blue-blooded, and wasn't the kind of guy who would necessarily check references," one of Crowe's fellow employees remembers.
Nikko institutes corporate bond department, read a July 13, 1987, press release about the company's expansion into selling "high-grade bonds, swaps ... and distribution of securities" to institutional investors. The department, with offices in the World Financial Center, would consist of five bond salesmen as well as a team of up to 15 traders and analysts. "Christopher Crowe, who formerly ran the Battenberg-Crowe-von-Wettin Foundation, will lead the endeavor as vice president."
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NYC smarts to the rescue
Yeah, funny old Boston, falling for that Rockefeller line of bs from a strange little man who caused some problems for a few people.
Not like sophisticated New York, where alert citizens were able to sniff out the financial shenanigans of that suspicious Bernie Madoff fellow before anyone was inconvenienced.
Piling on NYC
Bear Stearns HQ - NYC
Citibank HQ - NYC
More Fortune 500 HQs than any other city? - NYC
You know, some might call NYC the financial capital city of the world. Those same people might say they're also Ground Zero...for the current World Depression. Congratulations, New York City. We were duped by one man...you were duped by the entire financial system.