21–30 of 46 posts
What an inspiration this young woman is!
This is sure to get down-voted, but the first thing I noticed after reading about her supposed brilliance was -- she's very pretty.
I hope she continues to do good work with her many gifts. While the cynic can argue she'll get crushed by the system, occasionally good people can get in and make positive change happen.
I got about 10 pages into the paper and then that there's a good reason that I didn't get into Harvard. Anybody up for compiling a summary?
http://www.thisamericanlife.org/radio-archives/episode/355/T...
http://www.thisamericanlife.org/radio-archives/episode/405/i...
> Ah, the innocence of youth. Ah, the smug certainty of a Wall Street Reporter. Let's not forget how miserably the WSJ (and all other media) have failed to pick up on the gross fiscal abuse on wall street. Some modesty would be in order here! Besides, the student's suggestions are rather uncontroversial. She merely suggests that "to change wall street you have to change the incentives". How can any sensible person di…
I hardly disagree about the WSJ in general but I read the end of this article differently. The author's final question is a good one: why on earth did she take a job working for the very people whose irresponsibility her research exposed? Her answer, assuming it's sincere and not quoted out of context, is indeed naive: she's doing it to change the culture of Wall Street. Well, I agree with what I imagine the author's…
It was because of the way the author put "their irresponsible underwriting practices" in quotes in the just before the conclusion that set the tone for me, but once again, I should not have jumped to conclusions.
The linked paper itself is quite easy to read, though at 115 pages I didn't make it through the whole thing and resorted to skipping around. I'd love to see the tables of results put in perspective with a better visualization.
Earlier quoted context omitted.
This is sure to get down-voted, but the first thing I noticed after reading about her supposed brilliance was -- she's very pretty.
And a world-class amateur violinist. And apparently something of an idealist. I hope she continues to do good work with her many gifts. While the cynic can argue she'll get crushed by the system, occasionally good people can get in and make positive change happen.
> Ah, the innocence of youth. Ah, the smug certainty of a Wall Street Reporter. Let's not forget how miserably the WSJ (and all other media) have failed to pick up on the gross fiscal abuse on wall street. Some modesty would be in order here! Besides, the student's suggestions are rather uncontroversial. She merely suggests that "to change wall street you have to change the incentives". How can any sensible person di…
I hope she or anyone can change it, but the more I understand of people the more corruption I see, at least were big money its involved. Sad but true.
Earlier quoted context omitted.
Fannie and Freddie actually lost market share as the bubble really got going. They were prohibited from getting into most subprime, and tried to get around their regulations. Wall Street was the driver in buying up these shitty mortgages to put into MBS/CDOs -- and quite a few big banks bought mortage originators so they could get bigger margin on these deals. Unfortunately for them Wall Street couldn't find buyers f…
Fannie and Freddie bought a lot of subprime. I had friends that worked there and told me so and I've read about it. Over the long term Fannie made a lot of people rich. Read Beating the Street by Peter Lynch. He made a fortune off Fannie. Taxpayers will pay, unfortunately. http://www.washingtonpost.com/wp-dyn/content/article/2008/08... Without Fannie and Freddie and the backing by the US taxpayer Wall Street would no…
From Michael Blum's letter to Bernanke: "CDOs are like love. When they're good, they're great, but when they're bad, watch out." The linked paper itself is quite easy to read, though at 115 pages I didn't make it through the whole thing and resorted to skipping around. I'd love to see the tables of results put in perspective with a better visualization.
> Ah, the innocence of youth. Ah, the smug certainty of a Wall Street Reporter. Let's not forget how miserably the WSJ (and all other media) have failed to pick up on the gross fiscal abuse on wall street. Some modesty would be in order here! Besides, the student's suggestions are rather uncontroversial. She merely suggests that "to change wall street you have to change the incentives". How can any sensible person di…
I hardly disagree about the WSJ in general but I read the end of this article differently. The author's final question is a good one: why on earth did she take a job working for the very people whose irresponsibility her research exposed? Her answer, assuming it's sincere and not quoted out of context, is indeed naive: she's doing it to change the culture of Wall Street. Well, I agree with what I imagine the author's…
It's really sad that someone as talented as she is ended up at an investment bank. If she's an analyst, instead of a direct promote to associate at the very least, I think I'm going to barf blood.