Investment Bankers as “Crumb Catchers” So, I’m not the only one who well remembers one of the best books about Wall Street (and best contemporary American novels, period): Thomas Wolfe’s “Bonfire of the Vanities” (1987). Set in late 1980’s Manhattan, it chronicles life as a “master of the universe” through the prism of one Sherman...Read More
Perverse Incentives See that bum on the sidewalk? He’s worth $500 million more than I am. I owe $500 million — and he’s just broke. –Donald Trump, in less heady times The first rule of holes: when you’re in one — stop digging. –Thomas L. Friedman What prompts the above anecdotes isn’t the lack of a coherent, intelligent...Read More
The New “Most Trusted Man in America??” Yeah, yeah, I know who Julian Assange is, and about WikiLeaks. And I’m aware that Time magazine chose Facebook founder Mark Zuckerberg as its “Person of the Year” — if not a “jump the shark” moment, then awfully close. But my candidate for “Person of the Year” is...Read More