« Do Not Bailout David Webb: Why The Public Hates Goldman Sachs, Investment Bankers And Wall Street »
Hat tip to John Carney for finding this article from The New York Observer and Spencer Morgan. It's a profile of laid-off Goldman Sachs banker, David Webb, and his journey to Argentina after being terminated by Goldman.
There are a myriad of reasons for the public to rightfully abhor Wall Street, from conflicted stock research to the exorbitant bonus strutcure. But the most important rationale for our anger should be the criminal leverage that was utilized by all the players to drive their phantom profits and real bonuses. Yet now during the de-leveraging phase, we taxpayers are being asked to swallow the trillions in losses. It is disgusting and unacceptable. And the photo above captures how many taxpayers have been made to feel.
But in case you needed any personal reasons to hate these fuckers even more, this article will provide you plenty. The author is sympathetic. We are most defintely not in agreement. I have worked with hundreds of knobs like David Webb and to know them is to dislike them. And Goldman Sachs, more than any other firm, is full of bankers and traders like Webb. His every quote oozes self-importance:
“If you think about it, losing a high-paying job that you worked your entire life to acquire is a very traumatic experience."
You were 23 when you were hired and 26 when fired. Shut the fuck up please. But he doesn't:
“One minute I’m in the mountains of New Hampshire, the next I’m sleeping on this guy’s couch in Union Square. My girlfriend of two years broke up with me. It was the first time I had been without a serious girlfriend in five years.”
Oh, the hardship you have endured. The story goes on. I just can't stomach talking about it anymore.
Quoting from TC in the comments at Clusterstock, "Buenos Aires is apparently Spanish for useless tools." Now, that is a brilliant quote.
DailyBail
updated with new photo and comments.
Thursday, March 5, 2009 at 3:10PM
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Reader Comments (20)
“If you think about it, losing a high-paying job that you worked your entire life to acquire is a very traumatic experience."
You were 23 when you were hired and 26 when fired. Shut the fuck up please."
Why won't anyone else write like you. You have some phenomenal statements in your last 2 posts.
I could also provide you with plenty of reasons to hate them. I'm going to send you a few items about GS in an email.
"Though his tale is very depressing, the great positive for him is whatever he does in the long run, his education should keep him off the pole... "
That is HILARIOUS - I'm assuming you mean the stripper pole...
I just ran into this website and I think what you guys are doing is great. Before you guys attack me, I want to say I work for a major broker house and I'm very honest and I actually really care how my clients portfolios perform. Losing client's money is like losing my own money. I feel guilty losing my client's money that i wake up in the middle of the night and think about those households. Now here is my anger. Most of my collegues are bunch of idiots that dont care about their clients assets and they could care less about losing their money. They are good at blowing up the client's money and they dont know anything about preserving assets. In my office people have been buying stock on every dip. POutting them into losers like Citi, AIG, Bank Of America, FNM, FRE. I have one advisor that kept buying Citi at every dip. $18, $16, $13, $8, $5, $3 and even at these levels. When i confronted him..this is exactly what he said "Keep holding on..Keep it very tightly and dont let them take the shares away from you." I laughed my ass off and went on with my day. My poist is that there are a lot of idiots working in this field and they could care less about their clients money. I hate to see this as I worry a lot for my clients and try to protect them at all times.
I will post soon, but have to run now...
Great site by the way Daily Bail!
I notice you've got the uniforms stationed 24/7 outside of 85 -- wonder why that is??