4 ms·
It's "popular" to beat up on Wall Street in the same way it's popular to frown at a guy who steals the coffee shop tip jar. Without getting into the issue of p
by danilocampos 15y ago
It's "popular" to beat up on Wall Street in the same way it's popular to frown at a guy who steals the coffee shop tip jar.
Without getting into the issue of privatizing gains while socializing losses, or any of the other crooked shit that's just another day in that industry, the OP makes a perfectly reasonable case for feeling bad about working for his financial firm.
"It was a farce. We were actually not very good at producing returns that beat the market (the standard for measuring performance). What we were good at was applying lipstick, the bank’s marketing materials, to the pig, the bank’s investment returns. Clients paid us a lot of money in fees when there were better ways out there to investment one’s money that are cheaper and generate higher returns (1). None of it made much sense."