Is this the end of the world?

News is that, 16 european banks are going to fail the stress tests. Coupled with euro debt crisis and circumstances in US I think is the end of the world :(

banks are going to take a big hit...jobs are going to dry soon

what are your thoughts?

 
IlliniProgrammer:
Stuff like this happens every 70 years. It will all be ok and you'll have a lot of stories to tell the grandkids. But yes, living in interesting times is a curse. It's almost as bad as walking uphill both ways to work. :D

I hate PIIGS ... The world has come to a full circle, started by Greeks and Romans and coming to an end by them

 
Best Response

Yeah they were. It was frigging 1929 all over again. Now we get the other shoe to drop.

The markets have been bracing for situations like this for the past three years. In order for things to stay as bad as they were looking in 2008, we need these events from time to time. In fact, this is appreciably better than we had been expecting. The VIX at 40%? Pish posh. It hit 80 in 2008. End of the world, end of civilization, yada yada yada, lots of folks have claimed this in 1987, 2001, 2008, and life just moved on.

In hindsight, history looks predictable and certain. In reality, at the time, it was very uncertain. They had to deal with the same uncertainties we have today, and things turned out just fine.

Just do yourself a favor and don't have kids until the recession ends in 5-6 years or you own your home outright and have lots of cash coming in from investments.

 
IlliniProgrammer:
Our grandparents had it much worse. If the recession ends with WWIII, it will probably only have to last for 30 minutes rather than four long years of hopping from island to island and fighting in sub-zero alpine forests.
LOL

I hope French will put up a good show this atleast :P

 

^ nice

techiee:
IlliniProgrammer:
Our grandparents had it much worse. If the recession ends with WWIII, it will probably only have to last for 30 minutes rather than four long years of hopping from island to island and fighting in sub-zero alpine forests.
LOL

I hope French will put up a good show at least :P

History dicatates that the French have bascially won one war: the French Revolution. Not sure how they could have lost, but they did it. Thunderous round of applause!
Get busy living
 

Natus consequatur doloribus et rerum labore labore nostrum nam. Sequi eveniet molestiae qui vero. Saepe sint molestiae facere non nulla. Quis laudantium quasi dolores rerum.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”