Wednesday 15 August 2007

End of the Diamond Encrusted Era, and Cheap Money

Steve Schwarzman, of Blackstone, and Damien Hirst, the artist, have much in common. Their simultaneous extravagance is a signal that the recent era of cheap money and excess is coming to an end. Both have reached professional peaks, culminating in Blackstone's $33bn IPO and Hirst's $100m diamond encrusted skull. However, such wild pinnacles tend to end in hubris.

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1 comment:

Unknown said...

Another thing they probably have in common is there connections throughout their respective industries. I did some research on Blackstone's CEO (Steve Schwarzman) connections, interesting website on it here: http://www.newsvisual.com/newsvisual/2007/08/steve-schwarzma.html