Anguish at the bond market. The rabble now hates them

Michael Lewis

If you happen to be sitting on the Goldman Sachs bond-trading floor life must feel horribly unfair.

You did nothing worse than live by the ethical assumptions of your market — any money-making event short of obviously illegal is admirable — and now your own grandfather thinks you’re some kind of monster. Your world feels upside down: What was right is now wrong; what was good is now bad; what once felt like winning now feels like losing.

You are probably wondering: What next? What will the angry rabble — all those ordinary people who can never really understand your business — now demand that you explain to them, so they can disapprove of you all over again?

Poor babies, how horrid the rabble so misunderstands them.

At least the robber barons built stuff. These folks deal with what Karl Marx accurately called “fictitious capital” which benefits no one but themselves and they could care less what they destroy. Which, come to think of it, is a textbook definition of a parasite, isn’t it?

I agree with Jim Kunslter, it’s time for the Feds to use RICO.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.