[Editor's Note: DealBreaker correspondent Everett Stuckey just returned from covering an important event on Wall Street. His report:]
When I was an analyst scurrying back and forth to my rat's nest/cubicle the one thing that was missing from my life (besides a soul) was another tourist trap on wall street. Cause what I really need during my red bull run is crowds of slack jawed yokels moving in slow motion down the hallowed canyon of finance. So it is with great fanfare that we announce the opening of Museum of American Finance at 48 Wall Street (where else?). Soon every huckseed from Mayberry with a Scottrade account will be descending upon Wall Street for a history lesson.
Now the so called mission of The Museum of American Finance is to promote financial literacy. Yet there's a shocking dearth of literature in the place. In fact I'm quite sure the average person can learn more about the finance industry by watching Boiler Room.
[More on the report after the jump.]
During their press conference I over heard such mind grapes as:
"People on Wall Street don't understand that allocation of the worlds capital is a highly important job."
Riiiight. You guys have know idea what you do is important do you? That MD screaming at you right now is just exercising his vocal cords, for the hell of it.
"This Museum is about Stocks and Bonds AND everything in between"
Everything in between, really? And what would that be exactly? Mez? Preferred? Do these people have any idea what people in finance actually do?
The Museum of American Finance's best purpose is as tribute to Alexander Hamilton. And they have a room dedicated solely to Hamilton. Hamilton after all founded both our nations first central bank and our first commercial bank. I personally think the average person doesn't revere Hamilton enough. Taking a page out of the Facebook, the Museum includes a Wall of quotes by the legendary son of New York. My preamble aside, I found the following Hamilton quote to be quite disturbing.
"Man is either governed by his own laws -- freedom -- or the laws of another -- slavery. Are you willing to become slaves? Will you give up your freedom, your life and your property without a single struggle? No man has a right to rule over his fellow creatures." Truer words were never spoken, but what of all those shipments of "cargo" from Africa arriving in the southern Colonies when Hamilton spoke these very words?
So what did the $9mn they pumped into this bad boy really get them?
Giant sized fake iPhones and hack artists ripping off Andy Warhol.