<p>Investment banking is DEAD.</p>
<p>ALL DEAD. </p>
<p>RIP to the sinners of Wall Street.</p>
<p>Silicon Valley was "dead" after the dot com bust too.</p>
<p>I still see GS, JPM, C, BAC not to mention UBS, Barclays, etc.</p>
<p>This goes to show what happens when stupid people are running the show at these financial institutions. Such a situation that the economy is in should never had be allow happen in the first place. I can't understand why anyone would bet on the Real Estate boom by creating these subprime/exotic loans to people who were not qualified for them to begin with? In addition, in my area, which I lived in for 20 years, I have never seen a building boom as rapid as I had seen in the last 6 years. And that was in this decade alone. I wondered how on earth are they able to build so many housing units and commercial units when the existing ones were vacant? To me, in 2004, I feared that the sudden Real Estate boom would lead into a prolong recession. I called it build yourself into bankruptcy, which we are now seeing. This is clearly an example of corporate greed and financial irresponsibility. There was never a time when I felt so disenchanted about the future than right now. This is even worse than the dot.com boom.</p>
<p>As long as there is lots of money, there will be investment bankers. Anyone who says or thinks otherwise is a certifiable idiot.</p>
<p>Do you have any idea what IB is?</p>
<p>No. IB is not dead. Companies will still sell stocks and bonds, there will be IPO's. there will be buying and selling. etc. IB's are needed, even if in a different form.</p>
<p>If it is dead, we are all in a major heap of trouble. </p>
<p>Before you glorify in supposed "Wall Street" demise, you should learn something about it. Educate yourself, study history and stop jumping on the band wagon.</p>
<p>Didn't IAYF claim in another thread that he was working in IB until being laid off? He doesn't seem to have a lot of knowledge for someone that supposedly worked in the industry.</p>
<p>Yes, i did. For only a couple of years as a lowly analyst though, so i don't have as much knowledge obviously as an associate or senior analyst. </p>
<p>i still can't believe people want to become ibankers though. this industry is dead, it's f***ing dead and people STILL want to be ibankers. what kind of drugs do they sell to the young people these days? </p>
<p>there's more to life than money and prestige. it disgusts me how these supposedly "highly educated" people attending elite universities seem to think that all that matters in life are money and prestige so that's why they go to ibanking.</p>
<p>The low-hanging fruit according to hedge fund founder Lahde
[quote]
"The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," said Lahde, who according to the website birthdates.com is 37.</p>
<p>"These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America."</p>
<p>
[/quote]
Lahde</a>, who bet versus subprimes, quits hedge funds | Funds | News | Reuters</p>
<p>^awesome. hah</p>
<p>
[quote]
Yes, i did. For only a couple of years as a lowly analyst though, so i don't have as much knowledge obviously as an associate or senior analyst.
[/quote]
</p>
<p>If you worked as an analyst in IB for a couple years, you should have enough knowledge to realize that M&A, advisory and capital raising activities are still going to occur in some capacity and there is going to be demand to service this capacity. </p>
<p>Desiring a high paying job is not the product of an Ivy League or other top school education, but rather is human nature</p>