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Matt Levine makes sense of Wall Street like none other

nytimes.com

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Re: Matt Levine makes sense of Wall Street like none other

#161

Post by joejohnson »

Tycho wrote: post #155
xyzzyz wrote: post #130

Earlier quoted context omitted.

This is a good example of what corruption in America looks like. America enjoys a reputation of being a rather non-corrupt country. To large degree, this is true: bribing scandals are rare, and most Americans would be completely aghast at the idea of passing an envelope under the table to the official who is responsible for issuing building permits. Instead, the corruption in the US operates through completely transp…

It’s pretty benign when you think about it. Rich, successful people creating public goods so that their less-brilliant children can save face. What better trade-off are we going to get?

I honestly can’t tell if you are joking or jokingly trying to be an example what the parent comment is describing: numb to corruption when an example is done through “legitimate” means right in front of your nose.

Re: Matt Levine makes sense of Wall Street like none other

#162

Post by SonOfLilit »

srckinase123 wrote: post #112

Is it worthwhile to read Matt Levine's newsletter, even if someone doesn't even have a rudimentary grasp on finance/economics? I've tried reading excerpts but they just went over my head. Would it be more useful to get a basic understanding of finance before reading his newsletter? There is so much terminology that is foreign to me.

It's my first recommendation to anyone who tells me they'd like to understand a bit of finance - subscribe to Matt's newsletter, you'll pick it up and enjoy the journey.

Re: Matt Levine makes sense of Wall Street like none other

#163

Post by keeganpoppen »

misiti3780 wrote: post #144
keeganpoppen wrote: post #123

Earlier quoted context omitted.

yeah wow the idea that matt taibi is well informed on these topics... he's not even a good writer either... other than that, he's a great Matt Levine comp haha.

so matt taibbi is isn't well informed because he didnt work in investment banking previously ?

no because when read he comes across as someone who isn't great at grasping the full details because they are too busy with their own preconceived notions. "not a details person", or whatever. he has always been pretty good at preach-to-the-choir-style writing, which genuinely has its uses, it's just that you have to squint before drawing firm conclusions about the subject matter. which is the absolute opposite of levine.

but hey, that's just, like, my opinion, man. to each, their own.

Re: Matt Levine makes sense of Wall Street like none other

#164

Post by nullsense »

supernova87a wrote: post #128

I especially liked his column about the college admissions scandal, and it wasn't that it was unfair, it was that it was theft . Theft from the colleges. Because you know, they already sell their admissions: https://www.bloomberg.com/opinion/articles/2019-03-13/you-ha... Here is one thing that U.S. Attorney Andrew Lelling said in announcing the charges: “There can be no separate college admissions system for the weal…

I suppose on the flip side of that, not unlimited buildings can be donated, and being donated a building is perhaps a trade-off worth making.

Re: Matt Levine makes sense of Wall Street like none other

#165

Post by Tycho »

thundergolfer wrote: post #159
Tycho wrote: post #155

Earlier quoted context omitted.

It’s pretty benign when you think about it. Rich, successful people creating public goods so that their less-brilliant children can save face. What better trade-off are we going to get?

It is highly contestable that millions of dollars ending up in the already mega-wealthy Ivy league colleges is a public good. Considering how this could possibly be a public good, the most obvious way is that money into these institutions produces knowledge that then produces benefits in wider society. This fits mostly with the definition: > In economics, a public good (also known as a social good or collective good)…

The universities produce knowledge, but also produce and preserve culture, and attract students from overseas, and dish out scholarships to students otherwise unable to afford tuition. Plus, you get beautiful campuses.

Re: Matt Levine makes sense of Wall Street like none other

#166

Post by Tycho »

Klinky wrote: post #158
Tycho wrote: post #155

Earlier quoted context omitted.

It’s pretty benign when you think about it. Rich, successful people creating public goods so that their less-brilliant children can save face. What better trade-off are we going to get?

It's not benign. Your comment is an example of rich people hitting the easy button, and still being considered a "success" when doing so. Also I'd prefer public institutions to not be reliant on magic philanthropists or rich people with dumb kids. Just tax rich people more and build the needed buildings from public funds.

Your suggestion would force rich people to find some other way to buttress the careers of their progeny, and it would probably be worse.

Re: Matt Levine makes sense of Wall Street like none other

#167

Post by Klinky »

Tycho wrote: post #166
Klinky wrote: post #158

Earlier quoted context omitted.

It's not benign. Your comment is an example of rich people hitting the easy button, and still being considered a "success" when doing so. Also I'd prefer public institutions to not be reliant on magic philanthropists or rich people with dumb kids. Just tax rich people more and build the needed buildings from public funds.

Your suggestion would force rich people to find some other way to buttress the careers of their progeny, and it would probably be worse.

Examples of worse outcomes? I mean, it sounds like you're saying rich people will find alternative ways to undermine integrity, so we should lessen the path of resistance and just accept it. I am not sure why anyone would be okay with that.

Re: Matt Levine makes sense of Wall Street like none other

#168

Post by leroy_masochist »

fisherjeff wrote: post #86
rwmurrayVT wrote: post #33

Earlier quoted context omitted.

Securities fraud. I have linked it below. There are a few other articles where I am mentioned in passing or via hyperlink. https://www.bloomberg.com/opinion/articles/2017-05-22/fitbit...

To be fair, everything is securities fraud

It sucks that you are being downvoted for making a reference to one of Matt's recurring jokes

Re: Matt Levine makes sense of Wall Street like none other

#169

Post by victor106 »

Tycho wrote: post #155
xyzzyz wrote: post #130

Earlier quoted context omitted.

This is a good example of what corruption in America looks like. America enjoys a reputation of being a rather non-corrupt country. To large degree, this is true: bribing scandals are rare, and most Americans would be completely aghast at the idea of passing an envelope under the table to the official who is responsible for issuing building permits. Instead, the corruption in the US operates through completely transp…

It’s pretty benign when you think about it. Rich, successful people creating public goods so that their less-brilliant children can save face. What better trade-off are we going to get?

Love this comment even though my instinct is to not agree with it.

Re: Matt Levine makes sense of Wall Street like none other

#170

Post by vadym909 »

Klinky wrote: post #158
Tycho wrote: post #155

Earlier quoted context omitted.

It’s pretty benign when you think about it. Rich, successful people creating public goods so that their less-brilliant children can save face. What better trade-off are we going to get?

It's not benign. Your comment is an example of rich people hitting the easy button, and still being considered a "success" when doing so. Also I'd prefer public institutions to not be reliant on magic philanthropists or rich people with dumb kids. Just tax rich people more and build the needed buildings from public funds.

I agree it is benign. There are only a few Bill Gates level rich people donating buildings. Sure it is corrupt strictly speaking but would you rather a poor student compete with one Gates kid or 100 millionaire kids that have discovered other cheaper corrupt openings?
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