Tuesday, September 16, 2008

Words of Wisdom from Wall Street

Why do the MBA's command such high salaries. I believe the pick of the pick are the financial chaps. I wonder what explanation would they come up with to explain the Wall Street meltdown, in layman's language, I mean.

Anyway, sample this:

"It seems perfectly clear leverage is going down, that banks will be more careful who they do business with, and that there is a desire to be more of an agent that a principal."

And this:

"There will be a trend toward specialization. It's hard to be in too many places. Firms will concentrate on their strengths."

And this:

"There is a new way coming, but the old way is gone. I think the old model have been destroyed, or at least cyclically challenged. We'll have to figure out when the dust settles."

Does anyone know what new words of wisdom are being offered?

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