No Trust, Just Jerks

Another must-read inside report from the rotting bowels of the Vampire Squid:

I sat and listened to arguments about how commercial people HAD to be promoted despite being poor team players, downright jerks or much more. That really pissed me off.

And these were the good old days (the author left in 2002). Today Wall Street is infested with amoral, greedy jerks. This in and of itself would not be a problem if the governments and central banks -including those in Europe with former squidders  Draghi, Monti and others-  weren’t infested with the same toxic people, who will always accommodate, under-regulate and then bail out their Wall Street ilk at the cost of the taxpayer.

The other central points of her article are the dog-eat-dog culture of banksters and hedge funds, with everyone trying in ever which way to rip each other off. It’s a complete lack of ethics and TRUST (her emphasis). As with the European debt crisis, there are only two things that can still be trusted:

  • Banksters and their government cronies (read: ALL governments) will do business-as-usual with their greed, incompetence, profligacy and short-term thinking.
  • Governments will always bail out the banksters and gamble away the future opportunities of coming generations.


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