Investment Banking and "Fiat Money"
To start, I'm sorry if this is a dumb question as I'm only in high school and I'm trying to learn more about a career in investment banking. Anyway, today in class a teacher asked me what I wanted to do once out of college, and I said that I was interested in getting a degree in finance and then going into investment banking. He then lectured me on it, saying I would have to be a corrupt individual to succeed in that field due to the overwhelming amount of "fiat money" present in the career and the amount of screwing over others that takes place. Now, I know what fiat money is, but is it really prevalent in investment banking? And if so, where is it found? In securities promised to investors?
Once again, sorry if this is a dumb question; I'm just trying to learn.
Thanks!
Your teacher sounds ignorant.
He claims to be a former investment banker. I don't know if what he says is true; fortunately though, he was only a substitute teacher.
Your teacher is being paid in fiat currency... The dollar...
That's what I was thinking. He tried to claim that Steve Jobs would be an example of "real" or the opposite of "fiat" money. Guess he's just an old loon.
Everything (post-gold standard) is fiat money...He has no idea what he's talking about
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