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Inside the mind of an investment banker: Greece, Goldman and derivatives

By Implode-Explode Heavy Industries

"When one deal or a series of trades can mean billions in profit, even a relatively junior person can have influence on the bottom line far beyond what her title suggests. This is certainly true in the advisory business, but it is even more true in trading ? especially proprietary trading, a major reason that proprietary trading is inherently risky and would be restricted under the Volcker Rule. By the way, this is also a major reason that investment banks that are public companies and not partnerships are risky companies with notoriously poor managers."

Full post as published by Mortgage Lender Implode-o-Meter on February 24, 2010 (boomark / email).