A word of advice to any asshats currently hard at work figuring out how to cause the next financial crisis: AK Barnett-Hart is watching you. In fact, you're the reason the second year investment bank analyst, who wrote her senior thesis about the market for subprime mortgage-backed CDOs (which Michael Lewis called "more interesting than any piece of Wall Street research on the subject"), got into this line of work. To police you fuckers, and clean this place up. From Deal Journal:
Barnett-Hart’s thesis is highly critical of Wall Street and “their irresponsible underwriting practices.” So how is it that she can work for the very institutions that helped create the notorious CDOs she wrote about?
“After writing my thesis, it became clear to me that the culture at these investment banks needed to change and that incentives needed to be realigned to reward more than just short-term profit seeking,” she wrote in an email. “And how would Wall Street ever change, I thought, if the people that work there do not change? What these banks needed is for outsiders to come in with a fresh perspective, question the way business was done, and bring a new appreciation for the true purpose of an investment bank - providing necessary financial services, not creating unnecessary products to bolster their own profits.”
Michael Lewis’s ‘The Big Short’? Read the Harvard Thesis Instead! [Deal Journal via BI]