The re-emergence of Salomon Brothers is delightful to us all. It is great to connect with old friends and to stand up and proudly say "I was at Salomon Brothers."  

Over the years, Salomon Brothers was beaten up and beaten down. It was an unfair fight because there was no one to defend the Salomon Brothers legacy.  People with their own agenda talked trash about the firm and the good people who made it a special place. Some of these people were competitors. Some were just jealous of what we all accomplished together.  Proof of this is the terribly biased media coverage. Even the Wikipedia page was populated with false or misleading information which we did our best to correct. Many news reports that make it seem like one trader breaking the rules represented the entire firm. Or that one person trying to sell a book provided an honest, full and accurate representation of the firm.  

• You know the TRUTH. You know the firm was more than the simple narrative portrayed by media.
• You have every right to be PROUD. Proud of being part of a firm that was innovative and that celebrated excellence. Everyone at the firm was among the best, if not the best, in their field.

The media do not know the truth. They do not care to know the truth. They want to spin a narrative that will sell newspapers, get clicks, viewers and listeners. With Salomon Brothers, the narrative is fueled by an anti-Wall Street tone in today's society. And, today's journalists do not let facts get in the way of the narrative. We cannot allow anti-Salomon saboteurs and sloppy reporting to degrade Salomon Brothers any more.  

We ask that you join us. Friends and Alumni of Salomon Brothers. Signup below. You will join active alumni who will keep up-to-date on Salomon Brothers developments and be available to set the record straight when people in social media or corporate media try to smear the firm.  

Alumni Reunion in New York

•  Come and meet old friends and make some new ones. 
•  5:00pm, Thursday, May 12  (save the date)
•  Sign Up below and you will receive an invitation
•  No charge to join or to participate

Below are some Q&A |  Feel free to use as a guide if any ask about Salomon  

A Tarnished Brand ? 

Travelers paid $9 billion for Salomon Brothers. By definition, the firm was the most valuable investment bank in history at that point. If Salomon Brothers was so tarnished - why would Travelers have paid that much AND kept the Salomon name?   

Breaking Rules of Treasury Auction This was serious but it requires some perspective. Think about it. People who raise this have to go back 30 years to find something nasty to say. So it really says more about them - and their agenda - than it does about Salomon Brothers. Furthermore -  

• Only 2 people broke the rules - they were fired and the CEO was replaced. $280 m Fine.
• 2 of about 9,000+ people who worked at the firm 
• US Treasury lost no money Investors lost no money  

Also, context is important. 

1. 2012 Libor Scandal  

• 100s of people involved.  Zero fired. Zero CEOs lost their job 
• Cost global investors and taxpayers over $25 billion  
• Involved JP Morgan, Citi, Credit Suisse, Deutsche Bank and more  
• See:  https://www.investopedia.com/terms/l/libor-scandal.asp 

2. 2008 Tax-Shelter Scandal 

• Unknown number involved. 3 fired. Zero CEOs lost their job. 
• Cost taxpayers over $8 billion 
• Involved Credit Suisse, UBS and other Swiss banks 
• See: https://www.govinfo.gov/content/pkg/CHRG-110shrg44127/html/CHRG-110shrg44127.htm  

Liar's Poker 

It's no surprise that people who want to sell books will embellish. But the media seems to lose all skepticism when it comes to books that fit their narrative of Wall Street. 

Yes, the book is entertaining. But it is not a documentary. It never purports to be fact-based. At best, it captures a sliver of one aspect of the firm. It's like writing a book about seagulls in Florida and then having media call that book a complete and defining history of Florida.  

Wall Street 

Investment banking provides a valuable service to the economy. It is crucial to the efficient allocation of capital that has made modern society possible and has made the USA the place were people around the world want to live. Salomon Brothers was one of a few leading firms that created the modern financial markets. 

.COM

We need your feedback. We use the .NET domain on our website because Citigroup still owns the .COM.  Some have said it must just be an oversight that they still own it because they have no use for it. In fact, a spokeswoman for Citigroup confirmed that last week. She was quoted as publicly saying "Nearly 20 years ago, we unified our branding under 'Citi' and no longer use the names of our predecessor companies."

So, we have made a formal offer to buy the .COM at a premium over the appraised value.

We asked for their response by Friday, Feb 18.

• Can you think of any rationale reason Citigroup would not sell it to us?
• Can you propose any course of action if they decline to sell despite our generous offer?

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