Word: banker
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Given the way things turned out, there was probably a better title for Amit Chatwani's first book, Damn, It Feels Good to Be a Banker. The satirical look at hotshot bankers came out on Aug. 4, "three weeks before the world fell apart," says the 26-year-old author of spoof blog The Leveraged Sell-Out. "What timing...
...though, trying to gauge the best timing - and angle - for books about the crisis is as much a crapshoot as the market itself. "If I had had an epiphany and went with the title Damn, It FELT Good to Be a Banker, I might have been on The Today Show," says Chatwani. Still, the way the markets have been swinging, he'll probably have another shot...
...money - it's one layer better. So we should have more risks taken by funds and less risk taken by banks, because banks have a severe agency problem. ... When I trade I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line. He has an agency problem, and like [former Merrill Lynch CEO] Stanley O'Neal, if you follow the strategy you're going to make $160 million, and keep it, even if you blow up. And you'll do it again...
...mind is, what happens now?I try not to comment on current events directly. I think that we've got to progressively become a society where banks are deemed to be too precious for us, for our currency, to take too much risk. We need to have a banker who is just as responsible as someone working for the water company. Banks are going to become a utility. And banks probably will not have a lot on their balance sheet, and the risks taken will be borne by individuals like myself who have capital, and who know the risks, with...
...sell to Santa Barbara, Calif., real estate agents back in 1996. The idea came from White, an agent who knew the value of listing leads; the methodology, from Keane, a computer programmer, who wanted to use a new thing called the Internet. In 2000, James Saccacio, a onetime corporate banker who had been doing turnaround work, took over as CEO. "What intrigued me about the business were the natural barriers to entry," he says. "I asked people, Could someone do this nationally...