http://nymag.com/daily/intel/2008/09/lehman_bros_women.html#photo=1 Look how YOUNG their employees are-- did they actually have any ADULTS in charge? Are all the IBs just a bunch of kids with MBAs running around with no regard for risk?
Spitzer had absolutely NOTHING to do with interest rates being lowered to absurd levels via Alan Greenspan, and the relative ease of obtaining a mortgage. Spitzer prosecuted people in 2006/2007. This was WELL AFTER all of the mortgage shenanigans had already done their "dirty" deeds, the rating agencies, etc. I'm amazed that you have such a twisted view of the chronology of the events. Again, try putting down the crack-pipe, Son.
Did I say that itâs his entire INTIRE fault??? Of course Greenspan and the last two presidents are first to blame
I just did. Quite typical of Wall Street. But who is to really say what capacity some of these people worked in . . . Could have been a lot of people in Administrative positions, Syndication, Public Finance, etc. - - - Those areas are quite "cookie-cutter" in knowledge base. Nothing new here. It's a young people's game . . . Who else is gonna work 90-100 hours per week with no Family life?
Wonder how happy the writer would be if the piece were about his layoff. He is an insensitive freaking idiot making fun of the employees. Young employees don't make the decisions, they just work their 10-12 hours a day like all the rest of the rat race. Joking over layoffs is really bottom of the barrel. I almost hope he gets laid off himself next week...
Go read Deepcapture. It has a nice feature on Spitzer. The stuff is researched by pros, and professionally reported. Spitzer was definitely part of the problem. He was in the pockets of his pals.