Ackman, Dimon, Fink & Blankfein Working on Plan to Avert Fiscal Cliff

Bill AckmanBill Ackman Photo via InsiderMonkey, Flickr (CC BY-ND 2.0)

FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Erskine Bowles, former White House Chief of Staff under President Clinton, is putting together a “coalition of business leaders to basically lobby for something to be done about the fiscal cliff” and that he’s recruiting top Wall Street executives to join the committee. Gasparino reports that the list of executives includes, JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon, Bank of America Corp (NYSE:BAC) CEO Brian Moynihan, CEO and Chairman of  Goldman Sachs Group, Inc. (NYSE:GS) Lloyd Blankfein, BlackRock, Inc. (NYSE:BLK) CEO Larry Fink, Knight Capital Group Inc. (NYSE:KCG) CEO Tom Joyce, NYSE Euronext (NYSE:NYX) CEO Duncan Niederauer, NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) CEO Robert Greifeld, Pershing Square CEO Bill Ackman, and  Macy’s, Inc. (NYSE:M) CEO Terry Lundgren. In addition, Gasparino further reports the coalition is asking  business leaders to help fund the campaign, saying “they had a goal to raise 100” million dollars and already have “about 30 million.”

Ackman, Dimon, Fink & Blankfein Working on Plan to Avert Fiscal Cliff


On Wall Street business leaders forming a committee to fix the debt:

“Erskine Bowles of Simpson-Bowles. That plan is no longer, sort of brushed aside by the President. Since then, he’s been putting together a committee called ‘Committee to Fix the Debt’ and he’s been lobbying Washington, essentially congress people to do something about the Fiscal Cliff, which is fast approaching…So he wants to address that. He’s been going to Washington  pushing that. at the same time, there are people going to Wall Street and the business community to try to put together a coalition of business leaders to basically lobby for something to be done about the fiscal cliff. Who do they got on this list, well I saw the list today – it’s pretty interesting, if you look at it all the Wall Street guys who generally are at each other’s throats when it comes to the business are together on this.

There they are, JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon, Bank of America Corp (NYSE:BAC) CEO Brian Moynihan, Goldman Sachs Group, Inc. (NYSE:GS) CEO Lloyd Blankfein, BlackRock, Inc. (NYSE:BLK) CEO Larry Fink’s on this. Tom Joyce which is also interesting. You have Duncan Niederauer and Bob Greifeld as you know – NYSE Euronext (NYSE:NYX) and NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) not exactly best friends. Bill Ackman’s there. It’s an interesting group. From what I understand they are sort of approaching business leaders and saying can you please gives us a million dollars to fund this effort. I don’t know if they get quite a million dollars from everybody, but from what I understand they had a goal to raise 100 they’re about there, about 30 million dollars there as of now, but it’s a continued effort.”

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