T. Boone Pickens: `Ace' Greenberg Was a Great Man

Your next video will start in

Recommended Videos

  • Info

  • Comments


July 25 (Bloomberg) -- BP Capital Chairman and CEO T. Boone Pickens reflects on Alan C. “Ace” Greenberg's legacy. He speaks with Trish Regan on "Street Smart." (Source: Bloomberg)

What would you say is your best memory of ace greenberg?

There's so many.

So many memories because ace and i were friends for 40 years and did his best -- business for 40 years.

You may not know this, but ace is from oklahoma city, and i'm from 75 miles south of oklahoma city.

He told the one time that itf i had moved to oklahoma city, he couldn't coach to me and i may have amounted to something.

But ace was just a great man.

I think most profoundly positive in your on wall street for decades.

The guy has been around.

Everybody knew him.

His word was his bond.

He was a great guy.

He will be missed.

I will miss him.

I will miss him as a friend.

We talked every week.

Maybe not over five minutes, but maybe 25 minutes.

But not every 30 minutes.

What did you guys talk about?

The market.

We talked about the market.

Ace was a great hacker of oklahoma university -- great backer of oklahoma university.

I was oklahoma state, so always three minutes on that subject.

But then can talk, and you can pick up anywhere when you are good friends, and that's the way we were.

We always had something to talk about.

I had dinner with him at 21 club a month ago, and i knew that it was -- that we were getting close when we had dinner.

He had gone downhill.

But what a guy, ace greenberg.

When you last saw him, you said you knew it was going downhill.

Did it seem that a minute, that close?

How different did he seem?

He was tired, and he had lost weight.

It was a sad dinner in one way, and it was a goodbye, kind of.

When i left, i thought that ace and i will not have dinner again.

But just a wonderful guy.

He was a card player, too, right?

Did you guys play cards together?

I don't play bridge, and he does.

I play gin rummy.

I play poker.

But he could play any game.

Two guys from oklahoma.

Ace could play any game.

Pretty extraordinary what he was able to accomplish.

When you think of the firm in 1978 and when he was able to build it into.

He did it, but a great part of it -- of course, one, he is smart.

But two, he is a leader.

Guys like to play for ace.

They enjoyed playing on his team.

They love him.

I mean, today, that funeral -- and i will be there for the funeral, but it will be interesting to see a lot of the guys that were on his team.

They will be there, too.

He talked in his book about the reasons why bear stearns failed ultimately.

He talked about it effectively being sort of a run on the bank.

That they did not have a liquidity crisis.

He really seemed to cite the blame there with jimmy kane, who he had had take over for him back in 1993. do you think in your view that he held some responsibility for the downfall of bear stearns?

Did ace?

No, he did not.

Jimmy kane, he sunk the ship is what happened.

As you look forward, what do you think you will most remember him by?

He was -- the guy had a great sense of humor.

You know, he kidded me about things, and i love it.

I don't know, there are so many things.

Ace and i were just real good friends.

I made a speech today over at arlington texas, and it was the sorriest speech i have made in 20 years, and it was mostly because i was thinking about ace . i was preoccupied with those thoughts, and they were overwhelming to me.

I just kind of stammered through the deal.

Made it short and got out of

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change