Sunday, May 16, 2010

Take My Job? Just Shove It

You may have heard of the anonymous letter penned by a Wall Street brainiac that essentially opined anything we could do, he could do better, and if our pesky populism kept up and led to actual constraints on the financial services industry, those saintly bankers would blitzkreig through the rest of the economy using the God-given talents that have provided them obscene levels of wealth and hubris.

Or as Nick Kapur writes in The Motley Fool:

The letter cautioned that because of our unwarranted meddling in his industry, we're going to lose our cushy "$85k a year" jobs to him and all his financial friends. We'll lose our "4 month" vacation privileges, the superfluous bathroom breaks that we take, and our swollen, blue-collar benefit packages. Naturally, Wall Street folk don't require such frivolities, he says, but they'll gladly take them (or assist in their elimination) if they're forced to work our jobs.

I'll wait a moment while you ponder the between-the-legs brass clangers required to utter such horseshit.


Rather than unleash a stream of invectives in response, I'll simply cut and paste a snippet of Kapur's wisdom.

The reality is that no one here relies on your munificence. Our nation's stagnant per capita income and growing wealth divide should make that obvious. In fact, when this country's collective wealth was at its greatest, bankers had little more responsibility than to hold onto our money until we wanted it. Since then, you've grown like an aggressive cancer feeding off our prosperity. It's high time you realize that whether or not it hurts your feelings, you will no longer have that kind of unchecked autonomy.

Which leads me to my last point: What makes you think you could even survive in the real world? What exactly do you do well? Your own people acknowledge your uselessness. Jeremy Grantham believes that you "add nothing but costs." Paul Volcker believes that the best thing your business has produced in the last 25 years is the ATM machine. Jack Bogle ... well, you don't want to know what Jack Bogle thinks. Even in the best of times, 85% of professional money managers still can't beat a simple market index. Your business has a long and well-documented history of failing to provide value.

Honestly, I'm not sure I even want you doing something as complex as mowing my lawn. With the seemingly perverse attitude with which you view the world, I certainly don't want you within 500 yards of my kids' schools, let alone teaching at them. Your arrogance, your lack of a moral compass, and your incompetence spell out only one thing to me: You're unemployable.

Here's an idea to consider: Rather than infiltrate our lowly jobs, why don't you take that huge brain of yours and that renowned work ethic and become an engineer or a scientist or a doctor and actually create something of value? It would probably be more fun, potentially more lucrative, and you'd finally develop something that you could be proud of. We might even respect you for it.

What he said, you fuckety-fucker.

Image via Wikimedia Commons

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