Look what we smart bankers have contributed to the current crisis

ibnew — Thu, 18 Sep 2008 10:23:12 -0400

Here is an article I just read:

"God forgive me for the thoughts I’m having this morning.

I’m just wondering how they feel today, all the analysts and brokers from the financial institutions who are now being punished for the profligacy, stupidity, greed and wishful thinking of their masters. How they feel as they dust off their resumes and try to put the pieces back together in a world flooded with needy drifters just like them.

Do they feel like all my friends in years past who were downsized as a direct result of the kind of advice the Street gave to a variety of senior managers facing the issue of forced, quarter-to-quarter growth?

Do they feel like my pals at our former cable division, which was divested, in an act of completely moronic short-sightedness, when people like them decided that businesses who throw off cash flow but lower earnings per share were not worth keeping?

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ibnew — Tue, 16 Sep 2008 23:23:46 -0400

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