GSElevator Proved That Goldman Sachs Is the Ultimate Wall Street Power
The identity of the man behind the funniest Wall Street Twitter account has been revealed.
The identify of the man behind the 629,000-follower-strong Twitter (NYSE:TWTR) account @GSElevator -- a.k.a. the best source of comic relief on Wall Street -- has been revealed, and I couldn't be more disappointed.
The New York Times' Andrew Ross Sorkin broke the big news last night, revealing that @GSElevator was run by a former Citigroup (NYSE:C) bond executive named John Lefevre who never actually worked for Goldman Sachs (NYSE:GS).
And it wasn't an Occupy Wall Street protestor, a stand-up comedian, or a women's studies professor at a liberal arts college.
I had actually been hoping @GSElevator would turn out to be Goldman's feisty former spokesman Lucas Van Praag, who was well-known for delivering snappy, clever responses to question on topics ranging from bank bonuses to derivatives trading practices to management rumors.
For example, when the Times of London reported that Goldman CEO Lloyd Blankfein was set to award himself a $100 million bonus for 2009, Mr. Van Praag told CNBC, "There is speculation and there is stupidity. This speculation transcends simply stupid and takes it to a new level."
Now @GSElevator got big for a simple reason: He satirized Wall Street pomposity while poking fun at the bull market in outrage at Wall Street greed.
He covered President Obama's handle on the economy:
He tackled the complexity of the abortion debate:
He touched on consumer-spending trends:
Nevertheless, I'm worried that this news kills the fun we've had with @GSElevator. Something tells me the air of mystery was part of the appeal, and that's completely gone. It was obvious that the tweets were jokes, but there was always a chance that there was a prankster within Goldman laughing at the outside world.
But really, the biggest lesson we can take away from this chapter is that Goldman Sachs is the ultimate Wall Street power.
Mr. Lefevre himself said that Goldman has "more love/hate Main Street appeal."
You have to be big to be worth mocking.
It's why Weird Al Yankovic went after Michael Jackson and not The Replacements.
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