The Investment Banking Model, circa 2007

How long ago it seems now. Lucy’s mom lost her retirement savings when she found out her mutual fund was evenly split between a Madoff feeder and AAA-rated mortgage securities with the whole thing insured by AIG.

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6 thoughts on “The Investment Banking Model, circa 2007

  1. Heil Braun, currently doing Community Service in Scotland and Saviour of the World’s Financial System (if only those astute Americans would obey him)

    Presumably Lucy doesn’t care so long as she leaves productive employment even after the Cards collapse with :

    * Huge ante-Diluvian Bonuses and (better still – a post-Diluvian Bonus)

    * £700,000 annual pension

    * £Millions in share options

    After all, you can’t get high quality Bankers unless you pay them modest incentives

    AND we can always fire 1,000s of little people (probably labour-voters) to pay for this shambles

    Of course, the Ministers of the Gouvernement-General of her Britannic Majesty (God Bless Her) “didnae ken” about all this

  2. Well the taxpayer should get a quantum of satisfaction at seeing the boats, Rollses, and mansions their bailout money has turned into.

    A falling tide still lifts yachts.

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