In the 2+ weeks since MF Global filed for bankruptcy protection, much has been written about Jon Corzine’s penchant for making wild bets, which worked out fine while he was at Goldman Sachs, where risk managers are empowered to stand up to employees putting the firm/bonus pool at risk, but not so much at MF-G, where he was a man on a mission. If JSC could turn back time…he’d still be JSC and he still would’ve had that little voice, down his plums, telling him to risk it all on Eurozone debt, which in turn would’ve caused various people to freak out, start a run on the bank and drive it into its current state of affairs. Separately though? This business with the customer funds that were desegregated from the firm’s own money and which are currently “missing,” despite several manhunts and “magical mystery tours” to find it? It didn’t have to be that way and maybe it wouldn’t have been if someone had been forced to dust off his series 24 books and review the section on “customer accounts,” before cramming into a test center and sitting for the exam alongside all the other scrubs, sweating through his sweater vest over getting at least 70% correct. Continue reading »
exams
Forty-six percent of you are likely feeling prettay prettay prettay good this morning, possibly on account of celebratory morning drinks. The rest of you are probably in not as great a place, on account of having just thrown away the last 4-6 months of your lives. Continue reading »
Are you among the 42 and 39 percent, respectively, relieved? What will you be doing to celebrate? Running out and buying the next level of books during lunch? Not as lucky? Feeling like you just threw away the last four to six months of your life? Want to get angry? Want to make someone pay? Wanna see the institutes denial of your quest to put their precious three letters next to your name with three letters of your own? Continue reading »
From a candidate:
How about a shout-out for those of us who are sleep deprived and freaking out about tomorrow? something to cheer us up and forget that we paid over $1k for this test that (according to all estimates) most of us will probably fail. Something special, because we need it. Give us hope, something to look forward to, that’s all we really want. I know it’s only level 1, which screams ‘n00b’. I mean, if it was any more of a joke it’d be the Series 7, right? But even ‘n00bz’ need encouragement.
You’re all going to do great! And if you don’t, it’s not like this shit matters. Plus, we’ll be throwing a special pity party for the failures, so there’s that to look forward to. And because I know some of you are sensitive:
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
