
Fact is that this is a terrible way to make a living — except for the money,” Ken Miller, a former vice chairman at Credit Suisse First Boston and now a private investor, said. “The lifestyle is terrible — the hours, the sucking up. These guys must feel like they’re the victims of a capricious god.”
All together now: Awwwwww!
And sucking up? At least they've got transferable skills!
But seriously, if the only reason to be in the job is the money, and they get paid all that money to provide liquidity to the economy ("create money") and then they totally, totally fuck that up, then why are we paying them?
Why don't we turn the banks into regulated public utilities? No, the money wouldn't be as good, because working at the bank would turn into a good steady job, like working for the gas company, but the hours would be reasonable and they wouldn't have to suck up any more than the rest of us do.
Plus, they've taken the economy down twice in the last ten years: Once with the dot com bubble, now with the greatest financial crisis since the Great Depression. Isn't it time to take away the keys and give the wheel to a designated driver?
If you liked this post, buy the author some books.- lambert's blog
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Is it finally time for a purge?
If we don't nationalize the banks, we can only expect more greed-driven market failures in the future. Maybe we need purge 3 or 4 thousand MOTU
?