Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: JEB who wrote (594)	10/31/1998 5:52:00 PM
From: Sir Auric Goldfinger	Read Replies (4) of 19428

Jim Wolfensohn is one of the most honest and honorable men in the world of finance. His integrity is impeccable. The shares you mention were put into the same blind trust that the original James D. Wolfensohn, Inc. (JDWI) shares were held in. Paul Volker (you remember him, he was the man who choked inflation and was Alan Greenspan's mentor) joined JDWI in 1987 as Chairman of the firm. When Wolfensohn left to run the World Bank on a noblise oblige basis (I can assure you that he was not posturing for a better job after his tour was done as he is an extremely accomplished and wealthy man), Volker recommended at that time that Wolfensohn cease all activities at JDWI and to put his ownership of that predecessor firm into a blind trust. Jim concurred and Paul Volker stepped in to run JDWI on a daily basis for several years before BT bought it. While BT's propensity to bring political clout to its board might be questionable, Jim Wolfensohn's integrity is unimpeachable, IMHO. Thus there was and is never a conflict of interest.

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