Wealthy people love to claim that they got that way primarily due to hard work.
On March 16, 2007, Morgan Stanley employees working on one of the toxic assets that helped blow up the world economy discussed what to name it. Among the team members’ suggestions: “Subprime Meltdown,” “Hitman,” “Nuclear Holocaust” and “Mike Tyson’s Punchout,” as well a simple yet direct reference to a bag of excrement.
Ha ha. Those hilarious investment bankers.
Then they gave it its real name and sold it to a Chinese bank.
Hey, “coffee is for closers.”
“While investors and taxpayers all over the world continue to choke on Wall Street’s toxic subprime products, to this day not a single major Wall Street executive has been held accountable for misconduct relating to those products,” said Jason C. Davis, a lawyer at Robbins Geller who is representing the plaintiff in the lawsuit. “They are generally untouchable, but we are pleased that the court in this case is ordering Morgan Stanley to turn over damning evidence, so that the jury will get to see what Morgan Stanley really knew about the troubled nature of its supposedly ‘higher-than-AAA’ quality product.”
“Nice guy? I don’t give a shit. Good father? Fuck you! Go home and play with your kids. If you want to work here, close.”
On some days, even my workaday world feels like Glengarry Glen Ross, but that doesn’t mean I can collect a huge bonus for foisting defective buildings on clients. In almost any other field selling shit will get you in trouble with the authorities. The problem seems to be that Wall Street owns the authorities.