The, what an awesome book that was! It gave insights into the crash that I have never realized before, and would have never came to learn in school either. The book informed me that equity traders are looked down upon compared to fixed income traders, according to the author. The author explained of the massive size and volume of fixed income markets compared to equity markets. He also explained of the larger spreads and ability for fixed income to be bundled into the new (and largely misunderstood) pools of debt obligations.
So where does the belief that equity traders are less than fixed income traders stem from? Are fixed income traders truly greater than equity traders? Do they have higher incomes perhaps?
I have no experience or opinion on the topic, just curiousity.