John J. McCloy

A reader asks from Vermont if the John J. McCloy who is a friend of Walter Noel is the same person who led such a distinguished life. The “real McCloy ” was the father, born in 1895 and who ran everything from WWII (one of the few civilians to know about the Manhattan Project) post-war reconstruction (the predecessor to the World Bank) and adviser to presidents from Truman to Reagan. He died in 1989. Good, short biography here. His son may not have had quite the same illustrious career but (a) he did just fine and (b)what son, speaking as a son myself, ever lived up to at least the image of his father? It’s the son who is the friend of Noel and that is the beginning and end of his involvement with the whole sorry mess. Not an investor, not a participant in any way, just a friend. And as I’ve noted before, friends who stand up for friends, even if they think their friend is a naive fool, shouldn’t be faulted. Not by me, anyway.

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10 responses to “John J. McCloy

  1. Walt

    Chris, Chris, Chris. I certainly don’t think John J. McCloy is a “naive fool”. He is a great guy, and I have known him for 30+ years. He sponsored me for the Roundhill Club for Pete’s sake. He is a bit of a skinflint though. I worked him hard, but never got a dime out of him. He probably pissed it all away with some 20 something hedgie in town. Oh well. What was I saying?

  2. Blind Brook

    The apple fell far from the tree.

  3. greenmtnpunter

    And this George Ball? Son of the Secretary of State trading on the name? Or, no relation but fooling a lot folks like that Rockefeller imposter did for years?

    Is our blogger-in-chief pulling together his notes for the expose on the Bernie-Walter Story? I certainly hope you are, you’ve done a good job so far, like to see a payoff for your hard work.

    Been kinda slow lately, though, hard to advance the story until an indictment or two is handed up, I suppose. Or, a rat a la John Dean decides to start reprising Deep Throat’s role.

  4. greenmtnpunter

    Further to McCloy The Elder, yes, he is the McCloy I’ve been thinking of although I believe that McCloy The Younger has also done some public service work in international banking? McCloy, Sr., was what is known as an eminence grise, a minister-without-portfolio, a statesman, an “honest broker”, a public servant of the highest integrity. Who plays that role these days? Are there any true statesmen left? Not possible in this Age of Extreme Cynicism?

    • christopherfountain

      Well Clark Clifford tried to fit into that role but between his BCI (? that Italian banK) scandal and all his other scandals, he wasn’t quite up to the task. I’m available but so far, no one’s called.

  5. Walt

    Bernie – Walter story? What is that about? If you are going to write a book, Chris, let’s at least get the facts straight.
    Why no mention in any of your posts about Ezra Merkin? He of GMAC – as Chairman (which got TARP money), Cerberus, (which owns part of GMAC and Chrysler – how sweet is that), and he took money from widows and orphans, as well as every charity under the sun!! He sat on charity boards, invested money in his funds, then gave it to Bernie. Taking 2/20 all the way. Brilliant I say. But do you ever take him to task? No!! Is it because he is a Jew and you don’t want to be branded as an anti-semite? But it’s ok to be anti – waspy? I took money from South American drug cartels and Russian Mafia. But I am the bad guy, and Ezra get’s a free pass because of his faith? Give me a friggin break!!
    And what about Sandra Manske? She gets a free pass as well? She lives in DARIAN for Pete’s sake. What a lowlife. And the alleged “Jerry McGuire of Hedge Funds”. Yeah Right. Give me a break. She is suing her auditors. What a joke. I can sue mine – all 3 of them. I changed them every year – more often then I change my diapers!!
    So can I get treble damages? That would be sweet. Look – and keep this to yourself. We all thought Bernie was front running, which is illegal, but we figured what the heck, it’s a victimless crime, right? We are just like real estate agents Chris. We don’t want the house inspector to ask to many questions, and screw up our commission. So we didn’t ask a lot of questions, assumed Bernie would front run and deliver the bacon, but folks panicked and screwed it up. They wanted their money back for pete’s sake.
    So my Russian Mafia guy’s can’t come forward, as well as the South American drug cartels. That wouldn’t look good. My son in laws have to deal with that, and I am not all that fond of them anyway. Everyone else get’s bailed out by the SIPC. So get off my back. Ezra is the bad guy here, not good old Walter. That is why Yeshiva, NYU, and all the other good folks he screwed will keep him in court for years. I didn’t do that, so cut me a break, will ya?
    Sorry for the rant, my Depends are in a knot.
    Fondly,
    Walt
    PS – the filly’s send their regards. Thanks for not talking about the $7,000 per bottle champagne party. We are sorry you couldn’t make it. Next time, maybe. Hey, what was I talking about?

  6. Walt

    And another thing. And you are making it hard for me to eat my applesauce, Chris, but what is this all about?
    http://nymag.com/daily/intel/2009/02/walter_noel_shopped_for_audito.html

    My filly’s don’t shop for shoes. All their GD husbands work for me. And I pay them a ton of money. The Filly’s can damn well get what ever shoes they want. And stop asking me if you can do “Bareback” rides with them, Chris. I have heard this joke many times before. Get some original material. Hey, I am at the store, and need to get home. What is the number on Round Hill again? 175?
    715? 517? I stopped in at a neighbor’s by mistake last night. And they were an investor. So thet were pissed. Not sure why.
    Fondly,
    Walt

  7. greenmtnpunter

    Yes, Clark Clifford of BCCI, a/k/a Bank of Crooks & Criminals International. Old silver haired Clark was quite a smoothie, central casting couldn’t have done a better job of finding the right player for the role. I mean who is the senior statesman of today? Can’t think of anyone?

  8. anonymous

    Mr. Fountain,

    Please, please just do a little tiny research in John J. McCloy – there’s a whole ‘nother story there.
    Just Wikipedia him (not that they have everything right)

    In fact, he was did many terrible things. For some reason his legacy in WASP circles is unimpeachable – similiar to Prescott Bush. Fascinating to me.

    Promise me you will just look it up.

  9. Lord Jeff

    Used to attend parties at old McCloy place.

    McCloy Sr was such an Amherst supporter he had Lord Jeff Amherst portrait in his den. In a closet he had small black framed pictures of all those American icons he worked with (Kennedy etc).

    At old Amherst gym, McCloy is pictured on the tennis team around 1915 so or. As a teenager, he helped Rockefeller boys learn tennis in Maine (Seal Harbor).

    McCloy was Partner in firm that represented Rockefeller and Chase interests later.

    Robert Douglass fell into same circle at Chase and helped Rockefeller sons. Douglass has house in Seal Harbor. Douglass helps Noel.

    Story now goes down a negative path. Douglass – Noel. Douglass helps Noel hide money in banks in Europe through Clearwater. Bad Douglass! Bad Noel for hiding money from IRS and debtors.

    McCloy son: not sure really.

    All the Round Hill Club folks are “nice” on the outside (almost “too nice”) but as I get older, the real side comes out looking “bad”. And they are getting embarassed in public in increasing numbers. Can’t keep any good secrets anymore like the “Skull and Bones” days at Yale. Sad, really.