“I don’t have any particular allegiance to Deutsche Bank,” Gregg Lippman, the be-sideburned bond trader and sushi aficionado who made $100 million in a single week shorting the very CDOs his own bank sold, is quoted as saying in Michael Lewis’s The Big Short. “I just work there.”
But maybe not for much longer, if the German-owned bank doesn’t cough up the face-meltingly large bonus he feels he deserves. Today’s Post reports that Lippmann, who has since capitalized on the crash by buying up the crap debt, including residential mortgage securities, that have since increased in value, is considering striking out on his own.
Sources said Lippmann has considered joining another former Deutsche executive, Fred Brettschneider, who was the head of the bank’s global markets, in starting a new firm.
Will they sell T-shirts?