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"BUZZY" KRONGARD -- NEW #3-MAN AT THE CIA IS FORMER INVESTMENT BANKER
According to Krongard, referring to the CIA's predessor, "the whole OSS was really 
nothing but Wall Street bankers and lawyers." 

http://www.rumormillnews.net/cgi-bin/config.pl?read=7720
CIA/OSS is Bankers and such 

Posted By: Noah
Date: Tuesday, 20 March 2001, 1:07 p.m. 

  NOW YOU HAVE IT STRAIGHT FROM THE HORSES MOUTH OR BEHIND. 
  CHECK OUT THE 11TH PARAGRAPH BELOW: 

  _________________________________________________________________ 
  Colorful Outsider Is Named No. 3 at the CIA 

  By Vernon Loeb and Greg Schneider 
  Washington Post Staff Writers 
  Saturday, March 17, 2001; Page A03 

  A.B. "Buzzy" Krongard, a cigar-chomping former investment banker and martial arts 
enthusiast, was named yesterday executive director of the CIA, bringing a fast-paced 
management style to the agency's No. 3 job. 

  Central Intelligence Agency Director George J. Tenet announced the appointment, 
saying he treasures Krongard's "wise counsel and 'no-nonsense' business-like views." 

  Krongard, 64, former head of Alex. Brown & Co., an investment bank based in 
Baltimore, joined the agency three years ago as a counselor to Tenet. He switched 
careers shortly after helping engineer the $2.5 billion merger of Alex. Brown and 
Bankers Trust New York Corp., gaining $71 million in Bankers Trust stock. 

  Few of his former colleagues were surprised by his decision to trade a $4 million 
salary and stock options for the far less remunerative job of Tenet's consigliere. 

  A graduate of Princeton and the University of Maryland Law School, Krongard has a 
fondness for extreme military-style activities. Even as a banking executive, he 
trained with police SWAT teams for recreation and worked out with a kung fu master. 

  To impress -- or intimidate -- visitors, the former Marine officer would demonstrate 
lightning-fast moves for disabling an attacker. 

  The purpose of his exercise regime was not just to stay fit, he once said, but to 
increase toughness and discipline. To that end, he would thrust his hands repeatedly 
into buckets of dried rice or absorb blows to the stomach from a heavy medicine ball. 

  He maintained a shooting range on the park-like grounds of his home on the northern 
edge of Baltimore, and kept a walk-in safe stocked with Cuban cigars. 

  His rhetorical style, blunt and colorful, sets him apart on the seventh floor of CIA 
headquarters. In an interview yesterday, Krongard described his past duties as those 
of a "minister without portfolio" whom senior managers felt comfortable talking to 
about "sticky subjects." 

  "I really didn't have a dog in any fights," he allowed, "and I was able to broker 
some things." 

  But Krongard exhibited the requisite secretiveness when asked to explain his 
interest in intelligence and how he came to land a job in Tenet's inner circle. If you 
go back to the CIA's origins during World War II in the Office of Strategic Services, 
he explained, "the whole OSS was really nothing but Wall 
  Street bankers and lawyers." 

  Given the CIA's insular nature, outsiders who assume top posts often arouse 
suspicion. That was certainly true in the case of Nora Slatkin, a Capitol Hill staffer 
and Pentagon official who served as executive director from 1995 to 1996 under 
then-CIA Director John M. Deutch. 

  One former agency official said yesterday that he found it "absolutely astounding" 
that Tenet installed 
  Krongard in such an important job. "When you meet him, he tells you to punch him in 
the stomach to see how tough he is," the former official said. 

  But Krongard received a rave review from former deputy director of operations Jack 
Downing, an agency legend. "I have a lot of respect for Buzzy," Downing said. "He 
knows business and financial markets and all that. But he's been privy to everything 
since he's been there, sitting at George's right hand, so he certainly knows the 
agency. I personally would be very happy to serve in that agency with Buzzy as 
executive director." 

  Krongard described his new role as that of a chief operating officer and vowed to 
keep everyone focused. "If you ask me, 'What is your one biggest priority?' it would 
be to do everything I can . . . to support our two basic missions here, operations and 
intelligence," he said. "If you don't worry about who gets the credit, you can 
accomplish an awful lot." 

  © 2001 The Washington Post Company 


Washington Post article 


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