Losses are mounting. CEOs are quitting. Bonuses are plummeting. And here's what we've learned about what's going on on Wall Street these days from reading the papers, Web sites and blogs that profess to cover the place: Former Merrill Lynch & Co. CEO Stan O'Neal likes to play golf. Alone. He grew up in a log cabin but now lives in the same Park Avenue co-op as Lloyd Blankfein, whose firm, Goldman, Sachs & Co., O'Neal is weirdly obsessed with.
Bear, Stearns & Co. chief Jimmy Cayne also likes to play golf. And bridge. A lot. And sometimes, after a game, he smokes a little pot. In the men's room. With a woman.
A few months back, former Citigroup Inc. chief Chuck Prince suggested that CNBC's Maria Bartiromo kanoodled with a Citi banker. On a Citi jet. But now Prince is out of a job and Bartiromo's having 'the year of her career.' She's even recently interviewed a Citi vice chairman named William Rose, whoever that is.