Back in the day when Bozo was a trader he was really proud of the fact that the whole world of financial markets traded without doubt or hesitation on your word.
If Bozo said to a client "250 million done!" Then the trade for 250 million was done. There was no doubt of it. Actually in 22 years Bozo only did a trade of 250 million once, so donit get the idea he was anything like a big fish! Which makes it even more incredible. Even a small fish could commit his ban to an enormous trade. Acually Bozo did once say "2 Billion done", but it was a one day trade in old fashioned French Francs which doesn't really count. During Bozo's career banks instituted the taping of trading floor phones. But I truly believe these were, at the time, not meant to prevent cheating but to clear up misunderstandings. Basically, back in the day, your word was meant to count for something.
I wonder when exactly it changed. Obviously the dudes at Enron were just plain lying through their teeth, but they weren't bankers. Bankers, especially traders were different. We'd rather lose money than lose our reputation for being true to our word. And now? Well obviously there was a phase in the sub-prime meltdown when bankers and traders were willing to tell barefaced lies to get all those toxic instruments sold. Because frankly, I worked in this world for 22 years and I will never believe the ignorance and stupidity defence. You haven't got that job because you're stupid dude!
And today on my Reuters there popped up the following headline:
Click and have a read.
It probably doesn't gob-smack an outsider the way it smacks Bozo's gob. The formerly unthinkable now requires a probe covering a few (not one but a few) of the biggest banks in the world. And banks who set your mortgage rate by the way!
Bozo still has a few friends in investment banking (the number probably shrinks every day I post a new blog!). And Bozo still thinks most of them are decent, honest, hard-working trustworthy and talented individuals who earn their cash the hard way (even if they don't give enough of it to the poor ~ see yesterday's Bozo Polemic!).
Last year Bozo was turned down for a social drink by someone he felt was an old friend. Certainly someone Bozo owes an awful lot to from the old days. Yet this person thought meeting Bozo was dangerous! "You are a blogger, I don't want to be ambushed!" Since this was last year you can tell that it still hurts the feelings of thick skinned old Bozo!
Someone once said (and my google research skills have failed me in identifying who...): that it is the fate of the unscrupulous man never to trust anyone else.
Dude ~ it was just a beer! And my word is STILL my bond.
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