Ethersnap
Interests:
Current events, yoga, economics, food, travel, and all things cute.
Interests:
Current events, yoga, economics, food, travel, and all things cute.
Even if they didn’t agree with Obama on everything in 2008, many in the financial industry looked at him then and saw a reflection of their imagined best selves: brainy, self-made, above the mewlings and histrionics of partisan politics. He seemed like the kind of Democrat even white-shoe Republican bankers and libertarian hedge-funders could get behind, and many of them did.
When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.
(via Yoga-for-Trophy-Wives Fitness Fad That’s Alienating Discipline Devotees | Business | Vanity Fair)
Sonia Jones, lithe blonde wife of hedge-fund billionaire Paul Tudor Jones, has partnered with the family of the late Ashtanga-yoga master Krishna Pattabhi Jois to launch a chain of yoga studios and boutiques. That’s got many of Jois’s devotees in a distinctly un-yogic twist.
When finance and yoga collide. Sorta.
There’s something intuitively compelling about the idea that America’s growing income inequality helped fuel the 2008 financial crisis. The narrative, which got an official stamp from Congress’ Democrat-led Joint Economic Committee back in 2010, goes something like this: As middle class wages…
Hmmm…
(Source: The Atlantic)
Small as the abuses might be in terms of Seamless’s bottom line, there’s no doubt it has a big impact on the morale of employees, who seem to take pride in manipulating money one way or another.
hahahahahahahahahaha
Countries should replace much of their existing national debt with shares of the “earnings” of their economies. This would allow them to better manage their financial obligations and could help prevent future financial crises. It might even lower countries’ borrowing costs in the long run.
(via Princeton Alumni Weekly: Where the Class of 2011 found jobs)
Figures for 3 months after graduation—I wonder why we still have more people in consulting/finance than Harvard and Yale? Despite all the whining about how we’re disadvantaged in recruiting? It’s kinda weird.
For many kids, college represents an end goal. Once you get into a good college, you’ve made it, and everyone stops worrying about you. You’re encouraged to take classes in subjects like English literature and history and political science, all of which are fine and interesting, but none of which leave you with marketable skills. After a few years of study, you suddenly find it’s late in your junior year, or early in your senior year, and you have no skills pointing to the obvious next step.
What Wall Street figured out is that colleges are producing a large number of very smart, completely confused graduates. Kids who have ample mental horsepower, incredible work ethics and no idea what to do next. So the finance industry takes advantage of that confusion, attracting students who never intended to work in finance but don’t have any better ideas about where to go.
Ezra Klein: Harvard’s Liberal-Arts Failure Is Wall Street’s Gain
I always find articles in this vein highly relevant, but this one hits especially close to home, because I think Klein’s managed to articulate the reason why these jobs are so popular.
