Posts Tagged ‘Goldman Sachs’

The Allowance Experiment, Completed!

The Allowance Experiment, Completed!

By The Banker | Blog Posts, Personal Finance

Last night completed Day 30 of the “Allowance Experiment,” in which I offered my eldest daughter a daily payment calculated as 10% of her allowance savings, compounding daily.  On day 1, she began with an initial grub stake of $1.  She received $0.10 on day 2 (10% of $1) and $0.11 on day 3 (10% [&hellip

The Meaning of Jon Corzine

The Meaning of Jon Corzine

By The Banker | Blog Posts, Wall Street

With the announcement that MF Global Trustee (and former FBI chief) Louis J. Freeh will charge Jon Corzine for failing in his duty to oversee the company, the meaning of Jon Corzine shifts once again. Prior to this announcement, I understood the meaning of Corzine primarily through the following investment aphorism:[1] “One of the worst [&hellip

What is Wealthy?

What is Wealthy?

By The Banker | Blog Posts

Back when I worked on the bond sales desk at Goldman, many of us talked about what our “Number“ was – the “Number” obviously representing “Fuck You Money.” “Fuck You Money”, if you haven’t worked on Wall Street, represents the amount of money you’d need in order to professionally disregard anybody else’s needs.  In other [&hellip

Book Review: Money and Power - How Goldman Sachs Came To Rule The World

Book Review: Money and Power – How Goldman Sachs Came To Rule The World

By The Banker | Book Reviews, Wall Street

The book cover – featuring a view of planet Earth presumably from a heavenly vantage point – offers the first hint that William D. Cohan’s plan here is not critical thinking but rather hyperbolic imagery.  Inside he writes a survey not of Goldman, Sachs & Co.’s overall history but rather of historical points selected for [&hellip

Life After Debt, Part II - Weapons Of Mass Destruction

Life After Debt, Part II – Weapons Of Mass Destruction

By The Banker | Blog Posts, Wall Street

In Part I, I discussed an internal Clinton-era memo in which US Treasury department officials considered the consequences of paying off our national debt, by 2012. The most frightening ironies of the ‘Life After Debt’ memo are the alternative vehicles the author proposed to replace US Treasuries. As a finance professional, reading the memo carefully, [&hellip