1. the San Francisco model of banking and nurturing is vastly superior to the NY model. the spinning of cash in a zero sum game has no long term reward for NYC. plus the Chinese and Indians are smarter than the NY traders and will figure out a way to pull their "measures of value" out of NYC and London to stop you from 'playing' them. the ONLY assets of value we have in the US is our invincible military and our 200 best universities. we will use both to keep up our standard of living for sure in the next 25 years.
2. bankers to blame? no - it is Bloomberg that is to blame. he has emasculated the NY bankers by giving them immediate access to a device that kill responsible action by blocking all feelings of guilt and pain relating to one's childhood and present family obligations. NY bankers have become addicted to his machine and he makes 3m a day net selling it to you.
who cares about blaming bankers for creating this. it is the hatred of your children and wives for ignoring you that is the real cost that is coming.
4. you are deflecting your horrible choices by questioning my industry's integrity. it is obvious that the auction houses have won because "antique dealers" as you call them have no integrity. but most antique dealers have third rate minds at best. there is very little waste to society.
5. of course they do. and Hank Paulson did it best. in a week he ruined the lives of 80% of his competition posing as someone trying to save the country. the greatest swindle in history.
6. you know you are bright. but you will burn out when you are 50 for sure. maybe sooner.
7. you should get closer to the actual processes that actually helps society. EVERYTHING hinges on the DEEP BELIEF that the measure of value is real for teachers, police and doctors.
9. GREAT advice from others.
10. you currently hold the world record. happy to take you to lunch or dinner any day this week. or dinner. dont bring your wife because I will speak my mind and your pants will sizzle. time for you to exit.
Well - now ur talking Graham. I really should take u out to lunch to discuss the below (I feel I owe u that at least).
Many issues raised by ur email worth discussing:
1) The deeper causes of the economic problems in the West
2) The extent to which bankers were really to blame - or were they merely just blown off course by greater, underlying forces?
3) How most New Yorkers (including antique dealers) benefitted for yrs from the banking industry...
4) The extent to which a generation was 'trapped' by an addictive, spirit destroying industry? And by contrast ... how honest are antique dealers?
5) Do banks really swindle their own bankers? Or perhaps sometimes said banks allow certain mere technocrats to make much more money than they could elsewhere?
6) How splendid my mind really is? And what else I use it for?
7) Getting out of banking - not sure quite yet (certainly not 'mastered' it ... yet). But if I do - perhaps I should work for u?
8) Who wrote my quote re the West?
9) How u manage with 7 kids?
10) And finally ... the long story of Mr Ackermann and Mr Bunting...
yes, the sun has gone down in the WEST because 90% of the investment bankers have become addicted to "bloombergs" grafting their minds to his screen. when are you all going to figure out that they are front running you insidiously, steadily sucking the life from your souls as your furiously spin around in a game where the house always takes a cut that is far, far larger than you know.
the investment bankers in the EAST are helping raise money for people to make things which is what the bankers in the WEST USED to you
yes you are right "investment banking is not what it used to be" but not like you think. with your splendid mind you have been lured into a bubble that you think you have mastered but is a trap.
get out while you can.