- "To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me. I was 24 years old, with no experience of, or particular interest in, guessing which stocks and bonds would rise and which would fall. The essential function of Wall Street is to allocate capital—to decide who should get it and who should not. Believe me when I tell you that I hadn’t the first clue. I’d never taken an accounting course, never run a business, never even had savings of my own to manage. I stumbled into a job at Salomon Brothers in 1985 and stumbled out much richer three years later, and even though I wrote a book about the experience, the whole thing still strikes me as preposterous ... I figured the situation was unsustainable. Sooner rather than later, someone was going to identify me, along with a lot of people more or less like me, as a fraud. Sooner rather than later, there would come a Great Reckoning when Wall Street would wake up and hundreds if not thousands of young people like me, who had no business making huge bets with other people’s money, would be expelled from finance."
http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom/index.html
- Even today the willingness of Wall Street investments to pay thousands of to me for giving out investment advice to those more elderly than I astounds me. I was young, with no investment experience and cared little about which stocks and bonds would rise and fall. The main focus of Wall Street is to organize money - to determine who does and does not get it. I had very little idea of such a thing. I never had experience in parts of this field, never organized a business, nor ever had my own savings to take care of. I walked into a job at Salomon Brothers, and walked out much richer three years later. The entire occurrence was ridiculous i even wrote a book about it. I had thought that the entire system was unstable and that someone very soon would catch people like me red handed as frauds, and that there would be a revolution in Wall Street and a mass amount of people like me would be cast out from financing.
- Wall Street pays there financial advisers a wealth sum to determine the allocation of capitol despite the seeming little qualification the advisers may possess. The entire system seemed corrupt and that a time of revolution would come in Wall Street and several of the financial advisers would be cast out.
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