Reply to What's the appeal of working on Wall Street?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Look are there some bad actors in various areas of finance? Of course. There are bad people everywhere. There are doctors who are sociopaths. That doesn't mean anything for the field as a whole. The vast majority of people who work in finance are decent sorts who are not actively trying to rip you off. To think that they are is really tinfoil hat area, along the lines of thinking that Sandyhook was a set up. [/quote]

I'm sure there are a higher concentration of sociopaths and narcissists on Wall Street.  But we're not talking about individuals - we're talking about the field as a whole in fact.  The fact that Wall Street caused the worst financial crisis this country has seen is hardly tinfoil hat territory ... [/quote]

I am willing to concede that WS probably does have a higher concentration of sociopaths and narcissist just because you have to be smart and aggressive to survive there and sociopaths also tend to be smart and aggressive. So there is a rewarding of certain traits that sociopaths tend to possess. However, do YOU understand that there are THOUSANDS of people who work in finance as a whole (encompassing the whole profession not just the actual street where the market is located) who had FUCK ALL to do with the mortgage crisis? Seriously. Your typical equities portfolio manager or an equities analyst who would have had NOTHING to do with mortgage backed securities, which are bonds. Just for an example. But we should lump them in with the sociopaths right? They're all good for nothing villains because they happen to make more money than you?

IMO the people who were MOST at fault for that whole mess were the people issuing the mortgage loans to low income households who they knew were most likely a bad bet. But no one ever complains about them. Why is that? Is it because they don't usually make as much money as finance peeps so there is less jealousy clouding the issue?[/quote]

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