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Where did all the bankers from collapsed institutions go?

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Re: Where did all the bankers from collapsed institutions go?

#21

Post by rjurney »

chipsy wrote: post #19
snorkel wrote: post #12

Perhaps this pretty graphic is true for at most 15% of the 30000 people laid off from Bear Stearns and Lehman but it's certainly not true for the all 30000 people who were working at those banks because the headcount at the remaining banks has not risen accordingly. It's entirely possible that not everyone on the planet has a LinkedIn profile.

It's also likely that the "best" people at these companies (in terms of staying on top of their career, keeping contacts, etc.) are the ones using LinkedIn.

And that LinkedIn is the best data set there is on this matter, however sparse the data is.

Re: Where did all the bankers from collapsed institutions go?

#22

Post by bendtheblock »

jrockway wrote: post #20
yumraj wrote: post #17

What's the movement from Bear Sterns to Merrill Lynch imply? It's the only one linking two failed entities..

Merrill Lynch still sort of exists, in the sense that people will still say they work there. They have officially rebranded to "Bank of America Merrill Lynch", but I imagine people that were originally hired by ML will still say they work for ML and keep their LinkedIn profiles updated accordingly. (I'm on the other side, and I tell people I work for the Bank of America rather than "Bank of America Merrill Lynch", be…

I'm not sure if this is correct - the only bits that kept the ML brand were the private wealth management and some parts of the non-US global markets division. Even then, officially the full name is still "Bank of America Merrill Lynch" and I think only a minority would keep their employer listed as "Merrill Lynch".

Merrill Lynch was not bought by BoA until September 2008 and the merger did not legally complete until December of the same year (followed by company-wide rebranding throughout 2009). So I think the flow on the graph shows those that were made redundant when Bear Stearns collapsed in March 2008 and then went on to employment with ML before the BoA merger, which happened nine months later.

EDIT: grammar.

Re: Where did all the bankers from collapsed institutions go?

#24

Post by jrockway »

bendtheblock wrote: post #22
jrockway wrote: post #20

Earlier quoted context omitted.

Merrill Lynch still sort of exists, in the sense that people will still say they work there. They have officially rebranded to "Bank of America Merrill Lynch", but I imagine people that were originally hired by ML will still say they work for ML and keep their LinkedIn profiles updated accordingly. (I'm on the other side, and I tell people I work for the Bank of America rather than "Bank of America Merrill Lynch", be…

I'm not sure if this is correct - the only bits that kept the ML brand were the private wealth management and some parts of the non-US global markets division. Even then, officially the full name is still "Bank of America Merrill Lynch" and I think only a minority would keep their employer listed as "Merrill Lynch". Merrill Lynch was not bought by BoA until September 2008 and the merger did not legally complete until…

FWIW, our email addresses did not change from "bankofamerica.com" to "baml.com"† until two weeks ago. If I used LinkedIn, this is the event that would prompt me to update my profile, rather than whatever press releases were issued.

(† Why yes, we do use YAML...)

Re: Where did all the bankers from collapsed institutions go?

#25

Post by anamax »

jpablo wrote: post #3

So, this ask the question; Where did the people that caused the collapse go ?

They're still working in govt or are in Congress. Most of the ones whose terms are up are running for re-election. (Dodd, D-CT, is one of the few who are retiring.)

Re: Where did all the bankers from collapsed institutions go?

#26

Post by invisible »

jamesbkel wrote: post #15

I'm not sure if the graphic is just confusing, useless or both. They appear to say that BoA and Nomura benefited the most, followed by Barclay's. But the width of the lines to Barclay are the the biggest of all. As far as I can tell from the (very few) numbers they provided, these chart has no quantitative link back to the data. I really hope I'm just missing something, otherwise this is sad coming from 'Data Scienti…

I thought the same thing, but there isn't enough data to suggest that it's wrong. I think that there is a portion "unemployed" a portion "changed careers" and a portion that are too small to individually plot. So that entire graph may only be like 75% of those that were originally at those companies.

Re: Where did all the bankers from collapsed institutions go?

#27

Post by andrewljohnson »

smokinn wrote: post #4
mcantor wrote: post #2

I just want to note how delighted I am by these "data porn" posts that show up every once in a while. The last notable one I remember was OKCupid's analysis of communication success correlated with user photograph traits. Is there a site devoted to Tufteian data visualizations and analyses like this? I'd bookmark the hell out of its RSS feed.

I'm not sure we'll see many more of the OkCupid posts hit the front page. I think some sort of filter may have been added. I recently submitted their latest: http://news.ycombinator.com/item?id=1129738 and it got upvoted a lot in the first hour (more than others that did make the front page) but for some reason never made it to the front. Which is a bit sad because I think it was their most interesting one yet. (And…

Really? The OKCupid posts were some of my favorite articles on HN in a while.

I wonder if it's you who is marked as a spammer somehow, as opposed to the OKCupid blog.

I can't imagine why someone would want to blacklist that site, but I could imagine HN's capricious, opaque, oft-changing spam filter could have nailed you personally for no reason at all.

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