Yesterday, we told you we'd read in the Post that Blackstone CEO Steve Schwarzman went to visit J.P. Morgan CEO Jamie Dimon and Lehman CEO Dick Fuld, so that he could forgive them in person for having pulled the plug on financing for his PHH deal. But it turns out that maybe that was a total lie? "A person familiar with the matter says no such meetings took place, and that Schwarzman was, in fact, out of town when the meetings were supposed to have taken place," the WSJ DealBlog reported today. However! The Journal does back up the Post source's statement that Schwarzman didn't want to be in a "pissing contest" with the banks, although their source used a different, though still penile, metaphor. "This person did say that Schwarzman decided a sword fight with the banks is of little value, and that it is hard to fault the banks for the stand they took."
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