<p>Because investment banking is the only industry where you can earn BONUSES for f***ing up the American economy.</p>
<p>Seriously, I can see why you'd want to go into investment banking: you can choose a joke major like basket weaving or oil painting but as long as you go to the "right" school (Harvard, Yale, Princeton, etc.), you will get hired.</p>
<p>Bankers can get $18 billion in f<strong><em>ing bonuses despite the fact that most bankers are responsible for f</em></strong>ing this economy up due to their own greed and lack of ethics.</p>
<p>Is there a more unethical field than investment banking? You don't need job skills or ethics, just the right pedigree from a fancy school and you're hired on the spot. </p>
<p>Further, you don't even have to be competent at the job!!!! You can screw up the economy, but the federal government will bail you out (through our own f<strong><em>ing tax dollars!!!) and not only bail you out, but f</em></strong>ing reward you with $18 billion in bonuses.</p>
<p>haha...i love your post....and it is so true....i wish i had a job where i'm guaranteed big bucks no matter what i do...it's like gambling with other peoples' money and if you lose you still get big money and the other people lose their money that you squandered....it's even better than stephon marbury gettin paid 21 million to ride the bench....</p>
<p>Dude, chilll. Investment bankers are not at all responsible for screwing up the economy, they are just financial instruments...its the greedy CEOs with golden parachutes and all the greedy executives who coerced people clearly unqualified for loans into getting them, and all the trickery and greed behind the subprime mortgage crisis and the greedy credit card companies.</p>
<p>Also, if you want your opinion to be received in a positive light, avoid swearing and utilizing extremes. Try an approach with clear cut facts and ask for other's opinions.</p>
<p>greed isn't bad (just think about a service that both the government or a private company could provide [i.e. healthcare]-- which one gives better service? which one would you prefer to use?). Greed is responsible for the success & development of the US-- do you believe people go to work so that others could reap the benefits? Did you work hard in high school for someone else to get into a good school? When you donate something to a charity, are you really doing it for anything other than yourself (i.e. because it makes you feel good, doesn't make you feel guilty, etc.). Did nations like the Soviet Union work out well when people were denied the fruits of their success/work? (Did China even begin to succeed before starting to opening up its markets?). I just hate when people have this naive idea that greed is something evil. (Greed is about utility, not money).</p>
<p>And yeah that coercion was awful! I can't believe they let those mortgage brokers waterboard people in order to force them to take out huge loans. Those bastards!</p>
<p>And golden parachutes are responsible for the crisis? I'm not going to say I agree with the concept, but it's pretty clear you're just trying to throw in words you heard the big boys talk about</p>
<p>and those damn greedy credit card companies! How dare they lower credit limits when people start to default on their bills and pay late?!</p>
<p>Because investment banking is the only industry where you can earn BONUSES for f***ing up the American economy.</p>
<p>Seriously, I can see why you'd want to go into investment banking: you can choose a joke major like basket weaving or oil painting but as long as you go to the "right" school (Harvard, Yale, Princeton, etc.), you will get hired.</p>
<p>Bankers can get $18 billion in f<strong><em>ing bonuses despite the fact that most bankers are responsible for f</em></strong>ing this economy up due to their own greed and lack of ethics.</p>
<p>Is there a more unethical field than investment banking? You don't need job skills or ethics, just the right pedigree from a fancy school and you're hired on the spot.</p>
<p>Further, you don't even have to be competent at the job!!!! You can screw up the economy, but the federal government will bail you out (through our own f<strong><em>ing tax dollars!!!) and not only bail you out, but f</em></strong>ing reward you with $18 billion in bonuses.
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</p>
<p>Well I would work at taco bell, but it's people like you that always get hired.</p>
<p>Ibankers did strongarm the credit rating firms to give high ratings to worthless bonds. The knew or should have known their default models were crap and they were advising institutional investors who were dumb enough to trust them as professionals to buy crap they did not even really undestand themselves. The complex arrangements of the financial instruments made it so nobody can understand or value what they own now so the securities are devalued even more.<br>
Ibankers also originated the ideas of ever more slack underwriting standards on the mortgage loans so they could sell more of the resulting crap to large investors with the phony AAA credit rating. That's just the easy stuff.</p>
<p>Hahahahah, sounds like some ****ed off Harvard reject to me... coming from a family of Investment Bankers, I would love to point out that the problem with the global economy is not the bankers per se or at all for that matter. The problem was , clearly, the Bush administration and congress etc. the laws and the problems with the businesses blah blah blah blah... these problems destroyed the US economy and thus had a rather horrible effect on the global economy. Its all about the recession now which means that people were and are still underspending... with a bit more government spending, industries will flourish and production will rise... the world needs to work together... TURN THIS RECESSION INTO INFLATION GOD DAMN IT!!! LOL</p>
<p>"Ibankers did strongarm the credit rating firms to give high ratings to worthless bonds. The knew or should have known their default models were crap and they were advising institutional investors who were dumb enough to trust them as professionals to buy crap they did not even really undestand themselves."</p>
<p>In a nutshell, this is the problem as I see it.</p>
<p>The IB's were merely the street dealers facilitating the transaction. It was the Politicians who were the drug kingpins pushing the mortgages onto the street, and the rating agencies were the local police willing to look the other way for a bribe.</p>
<p>The IB's are no less responsible, but they are not the only one's responsible.</p>
<p>Wow, dont blame the rating agencies, they rate based on info received. Lets try at the other end -- how about someone knowingly lying on their mortgage application because they "deserve" a bigger house with a granite island in the kitchen (and zero hope to afford it) and now crying foul, they were approved a mortgage they had no way of repaying. Or else the fact that for years the bubble was being inflated by the falling interest rate? Or here's a funny thing --So, a professional invests in hedge funds for 20 years...Said professional opens up a "fund of fund" (as opposed to a fund of funds) shop in 2006 and invests everything into one firm.</p>
<p>That firm turns out to be a Ponzi scheme.</p>
<p>Naturally, the professional with 20 years of experience blames....her own auditors.</p>
<p>Comedy bonus, said professional is reported the founder of Tremont (which has its own Madoff problems). Meanwhile, the town of Fairfield acknowledges a $42mm loss linked to Madoff (through Tremont and then the aforementioned "fund of fund"). There will be a few other municipalities feeling the pain before this is through.</p>