Thursday, May 06, 2010

This post is long and angry. deal.

Look I work on "Wall St." Not actually on wall st but that just means I have a job in the financial industry. I work for an Investment Bank. A really fucking big one that makes over 3 billion dollars a quarter. I am not an Investment Banker. I've been having a real hard time trying to understand why people have this image of people that work on Wall St. as greedy mongrels who destroy "Main St." and the likes of good hard working American people. Like we ain't fucking American. Like I don't pay a SHITLOAD of taxes, taxes that feed poor people and put diapers on lil Russian kids on welfare when they have a mother and father driving around in Mercedes Benz.

What I don't work hard?

I gave out shitty mortgages to shitty people? I stole your granny's 401K? I fired your dad from the factory plant? Obama makes Wall St. out to be enemy #1, knowing full well America relies on our incomes our business and our astronomical company profits. This administration makes me sick and it's mainly because of the attitude it has towards my line of work. It's like he is trying to divide a country? Aren't we all American? Wall St. lost money and jobs, thousand and thousands of jobs. Just like Main St. But because the market corrected itself, because corporations made bad decisions and because Wall St. packaged shitty mortgages TO MAKE MONEY OF THEM they are the enemy.

There are 55,000 people that work in my firm. Probably less than 1% of that number include a wayward employee or a rogue trader who just sees dollar signs and breaks Firm policies to get rich. Usually our regulatory governing bodies, who by the way get elected by the very same politicians who are screaming about how bad we suck, catch those people and make them pay. Sometimes they don't, see Madoff, Bernie. But the majority of that workforce are simply hardworking people just like you. Just like a teller at a bank or a construction worker or a assembly line factory worker or an entrepreneur or a garbage man or a cop or a teacher.

I want to pass along a letter that might be a little over the top but it sums up kind of the way Wall St. is starting to feel like in regards the attitude being cast upon them.

This is why the letter I found below is the most awesome thing I ever read. It's so fucking true. People that complain about the wall streeters, casting this big giant net over everyone who works for a Brokerage Firm or Investment Bank really have no clue:

1) how one operates and
2) how hard we work

They also have no clue what it's be like if we become this sedated, tightly regulated, government controlled afterthought to the Economy. Trust me. It would be a disaster.

This is the most awesome thing I ever read.

"Beware of the Dinosaurs"

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?

7 comments:

Keef said...

"Probably less than 1% of that number include a wayward employee or a rogue trader who just sees dollar signs and breaks Firm policies to get rich"


You're naive if you think it's even close to being that low

El Padrino said...

you dont know shit

that's 550 people or less

that's true

you know how hard it is to break the rules in a investment bank as big as mine or jp morgan or goldman?

go back and check every SEC case, it always centers around one person

El Padrino said...

now the pompous attitudes and bravado these bankers give off is a different story but those people are douche bags not enemies of the mass

Keef said...

Relax, Webster. I'm just sayin. People look out for numero uno, especially these days. Everyone thinks they have the plan to get away with something. They don't all do it, obviously, but to think it's less than 1% is crazy.

Los said...

Some of wall street made quite a bit of money though through underhanded tactics ... right?

El Padrino said...

"Some of wall street made quite a bit of money though through underhanded tactics ... right?"

see but that is thier job

also, they lost a ton of money
and they didnt do anything illegal

ToddPacker said...

change the title of this post to "This Post is long and whiny."