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1/28/16

Mod Note (Andy): #TBT Throwback Thursday - this was originally posted on 4/30/10. To see all of our top content from the past, click here.

The following e-mail has been going around on the Street recently. I thought I might share it:

We are Wall Street. It's our job to make money. Whether it's a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn't matter. We would trade baseball cards if it were profitable. I didn't hear America complaining when the market was roaring to 14,000 and everyone's 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I've never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you're only going to hurt yourselves. What's going to happen when we can't find jobs on the Street anymore? Guess what: We're going to take yours. We get up at 5am & work till 10pm or later. We're used to not getting up to pee when we have a position. We don't take an hour or more for a lunch break. We don't demand a union. We don't retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We're going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I'll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we're going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we're going to stop buying the new 80k car, we aren't going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We're going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

We aren't dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply...will he? and will they?
http://corner.nationalreview.com/post/?q=YWE4YmE2Y...

Comments (119)

3/26/11

i dont agree with any of this sorry.....this screams narcissism, delusions of grandeur in self-efficacy, and arrogance. Honestly, this makes me sick. This kind of shit is exactly why people look down upon wall st.

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4/4/11

Eh

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4/27/11

good discussion guys. Glad to see threads like this on WSO once in awhile and see the certified members contributing.

In reply to WSOHelper
4/27/11
WSOHelper:

good discussion guys. Glad to see threads like this on WSO once in awhile and see the certified members contributing.

What a gay ass username.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

5/26/11

Read the comments in the original link : made me lol.

5/26/11

are people honestly assuming that in a world where bankers dont get paid that the money they would have earned vanishes off the face of the planet? What about the fact that 90% of what main street earns gets spent (goes back into the economy) and the top bankers (billionaire bunch) will spend a tiny amount of that. Even the analysts circulate the cash into a sub economy (the luxury goods market, run by a bunch of taxavoiding companies based in taxavoiding countries) - face it you spend a similar amount at the supermarket as the middle class, the difference is in the luxury markets.

For the next person to quote this and then goes DERP I CAN NAME COMPANIES THAT PAY TAX DERP, I can name a dozen that dont for every one you do name.

Personally I think wall street could take a 50% pay cut and nothing would change, want proof? look back 30 years. same game. same players, different paychecks.

In reply to trazer985
5/27/11
trazer985:

are people honestly assuming that in a world where bankers dont get paid that the money they would have earned vanishes off the face of the planet? What about the fact that 90% of what main street earns gets spent (goes back into the economy) and the top bankers (billionaire bunch) will spend a tiny amount of that. Even the analysts circulate the cash into a sub economy (the luxury goods market, run by a bunch of taxavoiding companies based in taxavoiding countries) - face it you spend a similar amount at the supermarket as the middle class, the difference is in the luxury markets.

For the next person to quote this and then goes DERP I CAN NAME COMPANIES THAT PAY TAX DERP, I can name a dozen that dont for every one you do name.

Personally I think wall street could take a 50% pay cut and nothing would change, want proof? look back 30 years. same game. same players, different paychecks.

Over those 30 years there has been 152.42% inflation. So in essence, they were paid a bit more then than now.

Reality hits you hard, bro...

In reply to trazer985
5/28/11
trazer985:

Personally I think wall street could take a 50% pay cut and nothing would change, want proof? look back 30 years. same game. same players, different paychecks.

Are you telling me you would work 100 hours a week staring at an Excel spreadhseet for $60,000 a year? I sure as shit wouldn't...

Oh, and yeah, like the poster above me said, you forgot to factor in inflation.

5/29/11

Sort of lame, at the end of the day you should care about your clients or you will ultimately end up as road kill. Sure there is always so yahoo who is interested in making a quick buck, but he dies quickly and in large numbers. Pick your team carefully, because at the end of the day it will be us against you, and we plan to be here for a long long time killing folks like you by the dozen.

- - - - -

We wait in the high grass . . . .

In reply to holymonkey
5/29/11
holymonkey:

If Wall Streeters were so smart they wouldn't be so reckless. The negligence of the subprime lenders is criminal. The negligence of the banks that peddled those junk bonds as A rated securities is even more criminal. I'm not faulting Goldman for hedging its risks-any smart bank should. But seriously, did nobody really think to ask "Wait, we didn't check their credit, we don't know what their income is, and we don't know how much the collateral's worth-is this really a good credit risk?"

One more thing-don't sell products you don't understand. I personally would never buy anything from a salesperson that doesn't know their product inside out, upside down, forwards and backwards, and every which other way.

They didn't check credit, etc because they were selling off the risky assets and earning a premium for securitizing such products... It was just too bad that when shit hit the fan they still were holding onto some

They DID understand their products, ratings agencies didn't... But I do agree with you on a moral standpoint (although that wasn't stated in your argument), bankers had to know that the shit they were passing off to investors wasn't going to turn into rainbows and jelly beans

6/29/11

I have a friend who wants to be a high school counselor (her dream job). She graduated from a very good public school @ one of the wealthiest communities in the US. She finished high school with 3.8 - 3.9 unweighted GPA. Her sophomore year in college she thought US was the largest country in the world by area. She graduated college with 3.7+. True story I swear.

Out of all the teachers I've had, only one made a true impact on me (US History). Funny thing is, now he is in finance (wealth management).

8/31/11

Wow, awesome post, I love it.

In reply to MBAApply
1/28/16
MBAApply:

Have you guys ever considered that you're being punked?Yes, this is an over-the-top viewpoint of what some folks on Wall Street may feel, but it's no less hyperbolic than what Stephen Colbert or Borat does with neo-conservatives. Those of you who are nodding your heads in agreement are being had on a punchline that the original author of this email likely intended. The fact that so many of you guys are even agreeing to this is what the author wants - it's meant to incite and to make you guys look like complete douchebags to everyone else who isn't on Wall Street - the more you guys voice your support for this kind of sentiment, the worse you will come across without even realizing it.It's a Gordon Gekko caricature (if that is even possible - and a fictional character no less), taking the smugness, nihilism, arrogance, presumption and self-importance to a more extreme level than reality. It's taking every single character trait people HATE about Wall Street and encapsulating it (a little to neatly) into an email.Parody is at its most effective when the intended target doesn't even realize that they're being parodied.

Since this thread was revived, time to revive this comment.

1/28/16

This is one of the biggest circle jerks I've seen in years on this forum.

In reply to ke18sb
1/28/16

+1

Double Doubler

In reply to holymonkey
1/28/16

You wouldn't buy a car? What about a house? I'm pretty sure there are a lot of car salesmen and realtors who couldn't break down the workings of an internal combustion engine or explain the finer points of carpentry, masonry and plumbing. Maybe the buyer should shoulder some of the blame for making an uninformed purchase. Caveat emptor, bro.

1/29/16

This originally came out several years ago during the Occupy Wall Street movement and has been recycled ever since.

1/29/16

Wow. This is why people hate Wall Street. Some of the most self-congratulatory trash I've read. Have some fucking perspective.

1/29/16

Dayummnn

Going all in on Finance.

In reply to MBAApply
1/30/16

Thank the lord for this comment. Morons. +1

In reply to jtbbdxbnycmad
1/30/16
jtbbdxbnycmad:

MBAApply:Have you guys ever considered that you're being punked?Yes, this is an over-the-top viewpoint of what some folks on Wall Street may feel, but it's no less hyperbolic than what Stephen Colbert or Borat does with neo-conservatives. Those of you who are nodding your heads in agreement are being had on a punchline that the original author of this email likely intended. The fact that so many of you guys are even agreeing to this is what the author wants - it's meant to incite and to make you guys look like complete douchebags to everyone else who isn't on Wall Street - the more you guys voice your support for this kind of sentiment, the worse you will come across without even realizing it.It's a Gordon Gekko caricature (if that is even possible - and a fictional character no less), taking the smugness, nihilism, arrogance, presumption and self-importance to a more extreme level than reality. It's taking every single character trait people HATE about Wall Street and encapsulating it (a little to neatly) into an email.Parody is at its most effective when the intended target doesn't even realize that they're being parodied.Since this thread was revived, time to revive this comment.

Thank the lord for this comment. Imbeciles. +1

In reply to MBAApply
1/30/16

As both above members have said, this statement (email) is a parody. Much less to provoke emotion rather than logic. Yes it has a decent alpha vibe to it but it is a farce.

hi

1/30/16

Decent post. Not the best message.

1/31/16

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2/2/16
2/2/16

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2/2/16
2/2/16

"Let me issue and control a nation's money and I care not who writes the laws." Mayer Amschel Rothschild

Don't be afraid to give up the good to go for the great.-John D. Rockefeller

4/26/16

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