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« Enjoy your iPhone | Main | Blackout »

Jan 17, 2012

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RBM

From an embedded link in one of the links above:

Recently, I spoke with a younger client who retired from a major investment bank in her early thirties, net worth around $8M. We can estimate that she had to earn somewhere around twice that, or $14M-$16M, in order to keep $8M after taxes and live well along the way, an impressive accomplishment by such an early age. Since I knew she held a critical view of investment banking, I asked if her colleagues talked about or understood how much damage was created in the broader economy from their activities. Her answer was that no one talks about it in public but almost all understood and were unbelievably cynical, hoping to exit the system when they became rich enough.

What would such a person's cynical take be, anyway ?

"It's everyone else's fault for the mess cause I worked hard at my job ?"

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