Ton of questions about Marshall

vinceh
Thu, 05 Jan 2012 10:18:03 +0000

High finance means IB, trading, hedge funds, equity research, private equity… basically Wall Street related stuff.



You left out…

As a group, these so-called Masters of the Universe created a series of allegedly esoteric financial instruments designed to “unlock hidden wealth”. These products were then pimped with increasing leverage to fellow hedge funds, investment banks, private equity groups, pension funds and anyone else blinded by promises of “wealth beyond the dreams of avarice”. Soon, like a fast moving cancer, these completely illiquid derivatives had wormed their way into every aspect of the financial system.

In truth these stalwarts of “high finance” either lacked the intelligence to truly understand the risks inherent in their products or chose to ignore those risks in an attempt to satisfy their rapacious greed. This Ponzi scheme soon imploded bringing the world economies to the brink of financial collapse. Humorously, having failed to realize the truth any street corner bookie understands – always lay off your risk – these financial geniuses then turned to the US government to bail them out. We are all still paying.

I hope that helped clear things up.

“Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world.”