The most personal tete-a-tete on Wall Street pits Henry Kravis against Steve Schwarzman. Kohlberg Kravis Roberts against the Blackstone Group. Fortune notes that the battle has really heated up as of late. For a while, it certainly looked as though Blackstone had knocked KKR from its perch. Recall the Fortune headline about Schwarzman as the new "King of Wall Street." It's hard to handicap this. But if KKR ends up morphing itself into more of a full service investment bank, you would have to give it the edge. The battle is a famous reminder that ego and greed are big drivers in the world of finance. I am not sure that the battle between the two firms has resulted in any bad decisions, but you could easily see how it might. Frankly, I think we'd all like to see more competition among the top firms. The last thing I want is the industry split into camps.

For more:
- here's the article from Fortune