An honest banker?

wildman · 15 Mar 2012 at 12:45

it was a great advertising campaign.

Banker quits GS under grounds of Morals
Banker opens up his own consultancy
Mugs think wow here's an honest banker
Mugs swarm to new Honest Banker Plc.
Banker laughs all the way to the cayman islands with new found wealth extracted from mugs who should kwno there is nothing such as a mroal or honest financial worker

I salute him for having brass balls and the aptitude to spot a gap in the market !!!!

rockstar82 · 15 Mar 2012 at 14:10

'He is has been a 10 year Vice President. That may sound good in middle America but on Wall Street that means he didn’t make the MD cut. A little sour grapes there. He wasn’t a major player. He has never made more than $750,000 a year'.

Like I said, couldn't hack it.

G-MAN2004 · 15 Mar 2012 at 14:18

Heliospherez said:
so they are probably too concerned about which car dealer will do the quickest service on their Lambo - or which penthouse has the best views over Sydney.

I can't say I blame them.

rockstar82 · 16 Mar 2012 at 09:47

G-MAN2004 said:
I can't say I blame them.

Yup.

Ask yourself the following question whenever you talk about bankers; if it was you, would you give up that lambo to feed the poor? To speak of it, you dont need "Lambo" money to give away to the poor - you probably have far too much money if you can afford a nice PC.. why dont you give away some of yours?

Whenever there's an opportunity to cheat the system (and by cheat I mean to make more money then anyone else in this case) you would be crazy not to do it, if not you then someone else right?

The issue is regulation and taxation. We need to tax ALL higher incomes more then lower incomes and we need to regulate the financial markets to bring back the division between prop desks and normal banking to name but one thing. Secondly, and more so in US then anywhere else, we need to take the money out of politics.

scorza · 16 Mar 2012 at 09:54

TJM said:
To be fair to scorza, any banker who says their company doesn't seek to extract the maximum amount of money from their clients is dishonest.

Aren't bankers supposed to be trusted advisors then? i.e. give the best advice to their clients not the advice that's going result in the largest fees for the bank. A lawyer or a doctor who advised their client in such a way would be banned from practising their profession. It's amazing (though not surprising) that people on this forum celebrate making money over honesty and decency.

drunkenmaster · 16 Mar 2012 at 10:08

wildman said:
it was a great advertising campaign.

Banker quits GS under grounds of Morals
Banker opens up his own consultancy
Mugs think wow here's an honest banker
Mugs swarm to new Honest Banker Plc.
Banker laughs all the way to the cayman islands with new found wealth extracted from mugs who should kwno there is nothing such as a mroal or honest financial worker

I salute him for having brass balls and the aptitude to spot a gap in the market !!!!

This is exactly what I'm expecting. Or maybe he's retiring, its pretty simple, work and gain no respect from anyone as everyone currently thinks "ewww, you're a banker", so retire, and as you retire, proclaim you're really leaving for moral reasons to make yourself look good.

He COULD have left 15 years ago if he cared about the morality, he's left AFTER he's made a fortune and then tried to make himself look good.... which is the "easy" way to do things and deserves no respect at all.

drunkenmaster · 16 Mar 2012 at 10:14

scorza said:
Aren't bankers supposed to be trusted advisors then? i.e. give the best advice to their clients not the advice that's going result in the largest fees for the bank. A lawyer or a doctor who advised their client in such a way would be banned from practising their profession. It's amazing (though not surprising) that people on this forum celebrate making money over honesty and decency.

A banker is not a lawyer or a doctor, need... want. You NEED that emergency surgery, you NEED to defend yourself from a murder charge... you WANT to invest your money to make more money yourself.... then get upset when the bank also wants the same thing. Anyone who would regard OR expect the same level of trust and regulation from a banker than a lawyer or doctor needs their head examined.

Of course the best advice from a bank entails their customer making lots of money for life, making a short term small gain rather than a long term bigger gain is not prefered, the later is also better for the client.

Then there is the little thing that, lawyers make deals to help themselves all the time, save money, screw people who can't pay, give shoddy defences, get off murderers, help people avoid tax and do all kinds of bad things, just as plenty of lawyers are great people who do their best.

Doctors also do things to help themselves all the time, put people into medical studies or throw them out if it will make them look bad, make mistakes, hide mistakes, its called human nature. Theres bad people and good people in every profession.