Archive for April, 2009
Investment banking
Posted by joshuah in Everyday garbage on April 29th, 2009
Classical strategy: “Buy low, sell high.”
Enron executive strategy: “Buy high, hide your losses with phony accounting, collect your bonus and get out.”
Lehman Brothers executive strategy: “Buy high, hide your risk with complex financial instruments, collect your bonus and declare bankruptcy.”
Other large investment bank’s executive strategy: “Get ‘too big to fail’. Buy high, sell low. Make up the difference with government bailout money. Continue collecting bonuses.”