Tag: what a load of bankers

Wall Streeters’ Chain Email Reveals They’re Even Worse People Than We Thought

Posted by Nexus – 05/05/2010

[via disinfo.com]

Think that the financial crash has left investment banking hotshots humbler and wiser? Not likely. The National Review blog The Corner has a defiant email that has been circulating over the last couple days among discontented Wall Streeters. Seriously, these people are as douche-y as you imagined:

We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

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Why you will never pay off your credit card

Posted by Nexus – 21/02/2010

[via cracked.com]

For decades, credit cards have been a means by which large banks have loaned money to poor people at interest rates approaching infinity.

Click on image for full-size (600x1936)

A Brief History of Credit Cards

Incredibly, the above isn’t an exaggeration. There are people in this situation right now where each payment to their credit card company leaves them owing more. Only in the last few years has the government moved to stop banks from putting people in this cycle of infinite repayment (where the interest and fees are more than the monthly payments).

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