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Quoted: To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me.
- misaacs - Feb 16 2009 | wall street, business, investing $, expose, recession, depression, economy
Quoted: The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.
- shadowpuppetmaster - Dec 11 2008 | the, and, of
the description from someone else of this article:
Quoted: Michael Lewis, author of Liars' Poker has written a long and bitingly sarcastic article about the few wise guys who
went into the current crisis short and about one (now unemployed) investment banker who helped to start it all.
[...] you will learn why bankers all round the world couldn't keep their hands out of the cookie jar, how they figured
out how to shift the risk to the stockholders (poor schmucks!), and why they were using low profile local retail banks
(Long Beach Savings and Loan ?!!) to sell mortgages to people who obviously couldn't make payments. The only
decent guy in the whole story is from Bakersfield CA. He is a monolingual Mexican field worker (strawberries) with an
annual income of $14,000 who suddenly found himself the owner of a $720,000 house." Quoted: The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.
Quoted: To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me.
wow - outstanding wall street expose'. Put your cash under your matress, build a chicken coop and start a garden.
Ross, Latarian, and Dovetonsils you will love this.
Quoted: The arrangement bore the same relation to actual finance as fantasy football bears to the N.F.L. Eisman was perplexed in particular about why Wall Street firms would be coming to him and asking him to sell short. “What Lippman did, to his credit, was he came around several times to me and said, ‘Short this market,’ ” Eisman says. “In my entire life, I never saw a sell-side guy come in and say, ‘Short my market.’ ”
Quoted: Bookmark this on Delicious - Saved by to finance economics business wallstreet
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