The History of GMAT

Jeffries: In 2009, I was at Lucadia and a friend of mine actually named Randy Jensen had a he had brought cap mark to Berkshire Hathaway. GMAT started a commercial real estate mortgage company with mortgage bankers with servicing in 1994. They built it up over time until 2006 when they got broken up and sold to various people. Jeffries: The idea was let's infuse that with a bunch of capital. You know, let's go and do a bunch of proprietary kind of business. And then in 2009, we'll do an IPO, we'll all get rich and go home.