Why the rest of us don’t like bankers

Or just about anybody in the Wall Street-based financial services industry.

They just seem to live in a different culture – a culture that few on Main Street would celebrate.

First, David Leonhardt writes in the New York Times that bankers were counting on being able to loot their companies in order to succeed.

Also, over at the Wall Street Journal, we have an article on how many investment bankers are leaving Wall Street as the money dries up. Down in the article, we find some bankers are headed for smaller firms:

Bankers at closely held firms have been spared the ire faced by employees of banks that have received public support. But boutiques aren’t a total safe haven. Bankers there are paid almost entirely by “eating what they kill,” while the larger Wall Street firms have historically offered somewhat lower, but more consistent, pay.

“Eating what they kill.” It’s not clear to me if this is the purely the reporter’s words. I’m guessing that it was picked up by the reporter as part of the industry’s lingo. I think it speaks volumes. Is that how you view your business relationships? Is that how you approach your day? These are people that have been warped by the industry they work in.

Not surprising for people who came to labeled “Masters of the Universe.”

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