Seperis (seperis) wrote,
Seperis
seperis

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so why not liveblog my reading? i never promised to be interesting, you know

Why I probably should never consider a career in finance.

While reading House of Cards by William D. Cohan:

By page 83:

seperis: Oh, this is sad.
seperis: [paraphrasing from book] Paul Friedman was exhausted, emotionally and physically. He took the train to his house in Scarsdale, at the end of a cul-de-sac. He collapsed in bed with the help of an Ambien and hoped to get some sleep. It was seven thirty. "At 9:15, I'm asleep and I hear knocking. Susie come upstairs and says "Timmy Greene is on the phone for you". I say, "He's on the phone for me now? What day is it?""
seperis: He's a Bear Stearns exec and has been awake since Wednesday.
seperis: And this is Friday night.
seperis: He says "get the lawyers involved" in a deal with JP Morgan.
amireal: That sounds about right
seperis: And Timmy said that the lawyer had taken a sleeping pill beforehand.
seperis: And fell asleep during the conversation.[end paraphrasing from book]
seperis: Who had also been awake since Wednesday.
seperis: No the fuck wonder Bear fell.
seperis: THEY TRIED TO SLEEP DEPRIVE THEIR EXECS TO DEATH
seperis: Jesus.
seperis: I can't even conceive of these numbers. 400 billion in assets.
Just all non-liquid.
seperis: *blank*
amireal: This is partially why I freaked out with Disney buying Marvel.

By page 99:

seperis: Okay, if I'd been Bear Stearns?
seperis: I would have damn well bankrupted and collapsed the system.
seperis: But I like to blow things up.
seperis: *grins*
amireal: heh
seperis: Okay, definitely.
seperis: I would hold my finger over the nuclear option.
seperis: Possibly just to see who blinked first.
amireal: I think it would matter how much I wanted to hurt people
seperis: *Thoughtful* I would not be good at stock broking, but I would be awesome during Mexican standoffs.
amireal: Or if I was in a mood.
seperis: ...we're both in moods a lot.
seperis: Maybe we should join Wall Street.
amireal: Hmm
seperis: *mulls* We could collapse the finanical district during our next periods.
amireal: it's possible there would much damage
amireal: or we'd end up supreme overloards
seperis: Show them what's too big to fall. Let's test that shit.
amireal: Chase? WHO NEEDS CHASE? Come on fuckers, play ball.
seperis: Two dollars a share? Bring that shit, baby. Game on.
amireal: We could collect stock in companies relating to basic elements. Like Diamonds. Or silicone.

And this is why amireal and I aren't allowed to work with money. Ever. Because we would collapse the financial world the next time Arthur pisses me off during Merlin. Wow, could you imagine what would have happened when SGA got canceled?

amireal: MAYBE CNBC CAN BECOME OUR SLAVES

But I'm tempted.

ETA:

Okay, wow.

p.136

This is from Moldaver, a Bear Stearns exec, to Jamie Dimon, CEO of JP Morgan, during a meeting between the execs and Dimon. Live, if you will.

Quote:

"I've heard some people refer to this as a shotgun wedding," Moldaver said. "I wouldn't use that term. I'd cll this a shotgun wedding to a rapist. Yeah, yeah, the girl was lying there naked on the ground when you found her, that's true, but you did it anyway."

This was before the deal was altered to $10 a share. I am trying to figure out how you shout that kind of analogy and not, you know, herniate something.
Tags: amireal, books, economic death spiral 2008, finances
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