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  #101  
Old 13.04.2011, 15:08
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Re: What has the banker become?

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They are faceless and they provide revenue for investment bankers to gamble

these are the sort of broad statements that make good soundbites but ultimately make no sense. what gambling are they doing and with whose money?
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  #102  
Old 13.04.2011, 15:11
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Re: What has the banker become?

If you dont like the way the banks handle your pension fund by taking 17%
why not invest your pension yourself and see where it gets you.

Its not so easy being an investment banker, like you see he drove out at 6am that means hes been up at least since 5.30 in order to catch the -Asian markets who are about to close and usually stay till very late in the office (when all the IT guys or Pharma workers are already home chilling) watching the American market. It might all look good when thy drive around in all the fancy cars but its not easy !

And its because of those bankers that make up for most of the big banks income and then make it able to hire thousands of workers which makes the jobless count less which makes crime go down which which which
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  #103  
Old 13.04.2011, 15:13
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Re: What has the banker become?

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I tried to read your initial post but all I saw were lines and lines. By breaking up your thoughts into paragraphs, your thoughts become easier to read and follow.
OK good point except it was a rant, and rants do go on and on and on)

Last edited by grumpygit; 13.04.2011 at 16:20. Reason: clarity
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  #104  
Old 13.04.2011, 15:15
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Re: What has the banker become?

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If Its not so easy being an investment banker, like you see he drove out at 6am that means hes been up at least since 5.30 in order to catch the -Asian markets who are about to close and usually stay till very late in the office (when all the IT guys or Pharma workers are already home chilling) watching the American market. It might all look good when thy drive around in all the fancy cars but its not easy !
Silly Engineers too working in shifts in power plants .. what the hell are they thinking running turbines?

Who needs electricity anyways? Not bankers., that's for sure!
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  #105  
Old 13.04.2011, 15:18
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Re: What has the banker become?

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these are the sort of broad statements that make good soundbites but ultimately make no sense. what gambling are they doing and with whose money?
Well I thought we had covered that ground, but to be clear, one simple example is the pension investment and this answers ukal too. Your pension is invested (depending on your country of domicile) by an authorised pension fund, i don`t believe youre allowed to manage your own, and this fund is invested by an individual trading in products supplied by a banker, an investment banker, therefore, the investment banker, whom you have already acknowledged has only a working knowledge of the ingredients that he compiles into the shitpot you call structured product, and he sells it to the person you are trusting with your retirement years. Now am I clear enough?
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  #106  
Old 13.04.2011, 15:19
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Re: What has the banker become?

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If you dont like the way the banks handle your pension fund by taking 17%
why not invest your pension yourself and see where it gets you.

Its not so easy being an investment banker, like you see he drove out at 6am that means hes been up at least since 5.30 in order to catch the -Asian markets who are about to close and usually stay till very late in the office (when all the IT guys or Pharma workers are already home chilling) watching the American market. It might all look good when thy drive around in all the fancy cars but its not easy !

And its because of those bankers that make up for most of the big banks income and then make it able to hire thousands of workers which makes the jobless count less which makes crime go down which which which
Well Ukal how was Mars the last two years?
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  #107  
Old 13.04.2011, 15:20
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Re: What has the banker become?

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these are the sort of broad statements that make good soundbites but ultimately make no sense. what gambling are they doing and with whose money?
With the general public's money ultimately. Whether it be through shareholders of companies, pension funds or investment vehicles.

The gambling phrase is too general however. "Taking risk" woudl be a better term perhaps ? Whether it is through predicting a future value or financial direction or assisting in a valuation of an IPO that turns out to be off the mark (or on it perhaps) the phrase "gambling" is not meant in the roulette wheel sense, it is meant in the sense of over assessing one's skill in the financial markets.

What might be a better approach is rather than berate society not understanding how it is not the bankers fault, instead explain in laymans terms why an investment banker at the height of the financial boom was still working within their boundaries of safety, because this is what people are not convinced of and where the most understanding is needed.
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  #108  
Old 13.04.2011, 15:21
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Re: What has the banker become?

i'm a bad ambassador and probably not doing any favors for the industry so i'm going to stop here.

but keep in mind that we still are your intellectual, social, and financial betters (which is why we make so much money).
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  #109  
Old 13.04.2011, 15:22
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Re: What has the banker become?

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i'm a bad ambassador and probably not doing any favors for the industry so i'm going to stop here.

but keep in mind that we still are your intellectual, social, and financial betters (which is why we make so much money).
Thank you Doctor Parting Shot, for your final contribution.
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  #110  
Old 13.04.2011, 15:28
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Re: What has the banker become?

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but keep in mind that we still are your intellectual,
Mwahhhaahahaaa! Keep on dreaming. I'm not speaking for myself, but I've met and worked with lots people who are in a league of their own - unfortunately for you, none were bankers... I'll add that I know a fair few bankers working in the city (NY & London) for top companies, mostly Cambridge graduates. While some are undeniably bright, they'd get blown out of the water by others that I've met. (As an anecdote, I'd also point out that the brightest from this peer group actually turned their backs on the banking sector.)

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social,
Social as in drinking lots & driving fast cars or social as in contribution to others/society?

If former, maybe, if latter, I refer you to my first answer...

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and financial betters (which is why we make so much money).
Maybe, but then again, money isn't a motivator for everyone... but I guess that concept doesn't really register with you, does it.

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i'm a bad ambassador and probably not doing any favors for the industry...
Well, at least we can agree on this point.
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  #111  
Old 13.04.2011, 15:49
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Re: What has the banker become?

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sorry to be blunt but i can't believe you have any relevant experience in this case based your failure to understand the difference between retail banking and investment banking.

people dont just whip up structured products. risk management quants are involved in every step of the process.
Oi as being one of those contributors that have explained their case clearly, I would like a retraction at this point before one pulls the ripcord on this thread
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  #112  
Old 13.04.2011, 15:56
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Re: What has the banker become?

I once met a quant that could price a CDO accurately.




...but then I woke up.
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  #113  
Old 13.04.2011, 16:17
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Re: What has the banker become?

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If you dont like the way the banks handle your pension fund by taking 17%
why not invest your pension yourself and see where it gets you.
Because you can't. As an employee, you are bound to the fund your company chooses.


I like the funny understone that bankers just got corrupt in the last years. Voltaire has some 250 years ago put it to the point already: "If you see a Swiss banker jumping out of a window, follow him, there is sure to be a profit in it."

Nothing new, really.
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  #114  
Old 13.04.2011, 16:18
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Re: What has the banker become?

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Bankers are highly compensated mostly because they work crushingly long hours. On an hourly basis you will find that they do not earn much more than say, a plumber. Also the industry is super competitive and attracts top talent who demand top level pay.
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these are the sort of broad statements that make good soundbites but ultimately make no sense.
I fully agree.

Enough of your BS already. Where were the geniuses and the quants and the financial models gurus and your so called top talent when their institutions were falling apart? What were they advising their own institutions? Being a top talent yourself you were probably out to lunch, out on vacation or asleep at the proverbial switch, no?

UBS hat in hand at the US Gov't. AND at the Swiss Gov't.
Citibank hat in hand at.......
Bank of America hat in hand at .....
Merrill Lynch- kaput ( well, forced to sell itself)
Lehman- kaput
Bear Stearns- kaput
AIG- hat in hand..... and will be kaput.
The list goes on and on and you know the names as well as I do.

What were the smart cookies, Harvard grads, working 100 hour a week even on weekends guys/gals doing before the financial world almost collapsed? Where was the top talent then? There were only a couple of hedge fund guys who saw it coming and profited very well thank you very much.

When the times are good, everybody including the "bankers" clerks, secretaries and cleaning lady were getting a bonus. When times are bad the bankers get a bonus, the secretary, what secretary? What clerk? What backoffice workers? They work here??

Now the very same companies and " bankers" want to advise individuals, countries and companies on how to manage their assets/economies etc !!!

"UBS together you & us" come on!!!

Get off your high horse.

Last edited by 3.Ocs; 13.04.2011 at 16:23. Reason: typo
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  #115  
Old 13.04.2011, 16:23
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Re: What has the banker become?

It is the bankers that buy all the brown sugar!
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  #116  
Old 13.04.2011, 16:23
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Re: What has the banker become?

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Oi as being one of those contributors that have explained their case clearly, I would like a retraction at this point before one pulls the ripcord on this thread
Apparently, as I have discovered numerous times, the banker refuses to acknowledge that what he has proposed was in fact optimistic bovine output and prefer to scuttle back under the softly veneered designer desk in which he resides.Shame really, an accceptance that things are not quite so "perfectly dynamic,blue sky thinking,thought grenade prepared terrain" is dissappointing.
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  #117  
Old 13.04.2011, 16:49
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Re: What has the banker become?

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i'm a bad ambassador and probably not doing any favors for the industry so i'm going to stop here.

but keep in mind that we still are your intellectual, social, and financial bed wetters (which is why we make so much money).
fixed that for you
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  #118  
Old 13.04.2011, 16:53
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Re: What has the banker become?

oy its not time for another bash the bankers thread, the agreed limit is one every 7 days, please reopen this thread on friday.

Bash nuclear is however open for business, so please move along there, where ill informed rubbish is allowed to be posted in abundance.

thank you for your understanding
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  #119  
Old 13.04.2011, 16:54
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Re: What has the banker become?

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oy its not time for another bash the bankers thread, the agreed limit is one every 7 days, please reopen this thread on friday.

Bash nuclear is however open for business, so please move along there, where ill informed rubbish is allowed to be posted in abundance.

thank you for your understanding
Vultures only gather where the meat is rotting
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  #120  
Old 13.04.2011, 18:35
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Re: What has the banker become?

Matt Taibbi has something interesting to tell you all about how the bankers saved us all during the recent crises

The Real Housewives of Wall Street
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?
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