Rantings and tirades of a frustrated economist.
I was under the impression that they think networking, ass-kissing, brown-nosing, rent-seeking, bailouts, handouts, bribing, and lobbying=talent.
I remember rubbing elbows with those people a couple decades ago... I will say that they were bright (IQ-wise), but they were the most shallow, un-thinking, idiots I've ever spent time with.Some people see $$ as the ultimate measure of the value of a human being. A man with $20M is clearly worth more *in every way* than a man worth $5. No other metric made sense to these people.When I think back - I wasn't quite as disgusted by these people as I should have been.
Them "Now, now, there is no need to hate us, we're hiring after all!"Me: "Really? Well, here's my resume..."Them (speaking over me like I don't exist) "Yes, that's right! We're HIRING! Anyone interested?"Me: "Actually, I am, I just said-"Them: "Well! We offer to hire, but there's no one to hire, I guess we'll just have to keep our unearned fat stacks of cash and opportunities to learn great analysis techniques to ourselves"Me: "WAIT!!! I WANT THIS JOB!!!! "Them (bloodied on the ground, still pretending I'm somehow not there): "Not even one person interested... such a shame."My guess? It's a way of getting some people's support since "they're hiring" when in reality they are not and routinely turn down qualified talent.
"The issue, executives say, is not pay, but how much scope there is to innovate and build businesses, which is why more bankers and traders are leaving the big Wall Street firms for Silicon Valley, joining private investment partnerships like hedge funds and private equity funds, or going into energy and other industries."Cappy Cap...I think this is the more important bit. A bunch of incompetent idiots are moving into other industries thinking they're the second coming. Granted, who they're probably replacing weren't great either...just expect more incompetence in business.
"having more conservative bankers and fewer heavy risk takers running Wall Street will reduce the chances of another blow-up like the financial crisis"I wasn't aware that we needed another crises, we're still waiting for the last / current one to run its course, aren't we? They keep printing money to prolong the time untill the other shoe drops, how long can they keep it up?BTW anyone seen much coverage in the MSM of Iceland? You know the country that told its creditors to go piss up a rope, gaoled bankers and politicians and the like?thought not, I wonder why not?
I was under the impression that they think networking, ass-kissing, brown-nosing, rent-seeking, bailouts, handouts, bribing, and lobbying=talent.I second that.
The financial power is not weakening: it's consolidating. That's what happens as power becomes more and more centralized.
When people say they need creative people, you have to wonder what they did with and to the creative people they had already.
The way you described the denizens of Wall Street reminds me of the denizens of both Washington (D.C.) and Hollywood.
Post a Comment