It’s been hitting me pretty hard what happened just a few years ago. Then you see [Senator] Carl Levin and the Senate looking to bring criminal charges against Blankfein. There are some key learnings that came out of that period in history, and it felt like it was a really appropriate thing to eulogize on my body... to me this represents the recipe for human greed. It was severely misappropriated by traders, the way it was oversimplified and reduced it to a single gamma number - and they couldn’t stop using it even knowing the inherent fallibility in it. I’m going to come off like such a f———g socialist in this, but to me it perfectly embodies what went wrong. And in that way it was the closest thing I’ve seen to the economic paradigm that we’re in. [Easy Street]
Was The Financial Crisis Caused By A Fictional Hooker-Loving Master Of The Universe? At Least One Guy Thinks Maybe
Several weeks back, Michael Douglas appeared in public service announcement shot by the FBI, in which he tells people that while they may have been taken by his character in Wall Street, that it's important to remember that that was just a movie and in real life, insider trading is wrong. Next up among actors who think roles they portrayed on the big screen contributed to the financial crisis is Richard Gere. Glamorizing being a corporate raider who made enough money to buy a hooker is his personal cross to bear. It was the modern-day fairytale that captivated hundreds of millions of film fans the world over. But it seems Pretty Woman holds nothing but regrets for its leading man, Richard Gere. While promoting his new financial thriller Arbitrage recently, the 62-year-old shared his scorn for the feelgood 1990 chick flick, telling Woman’s Day, “It’s my least favourite thing.” Richard adds, “People ask me about that movie, but I’ve forgotten it. That was a silly romantic comedy. This is a much more serious movie that has some real cause and effect.” Incredibly, the grumpy star also claims his Pretty Womancharacter Edward Lewis helped contribute to the global financial crisis, as he glorified greedy and selfish Wall Street types. “It made those guys seem dashing, which was so wrong,” Richard explains. Related, what's it gonna take to smoke Vin Diesel out of his hole? It's pretty obvious it was around the time his turn as senior broker in Boiler Room premiered that Dick Fuld ramped up the shit on Lehman Brothers balance sheet that ultimately took the firm down. Richard Gere: Pretty Woman Was Rubbish [WD via Dealbook]
Brian Moynihan: BofA Execs Might As Well Have The Phrase "Always Be Firing" Tattooed To Their Faces
It's basically the mantra of the company, so.
27 Year-Old "Death Spiral" Financier Doesn't Feel The Need To Explain Himself To You
Josh Sason, he of the Long Island Sasons, will not be opening up about his process.