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HR 1207 : Federal Reserve Transparency Act 2009 (pg. 24)
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| jerZ07002 |
| quote: | Originally posted by DOOMBOT
Haha, very true. I'm an ABM though. :) |
assistant branch manager is one step above head teller. that barely qualifies you as working in finance. it is highly misleading to say you work for a financial institution when you know people associate that statement with working in investment banking and securities. |
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| DOOMBOT |
| quote: | Originally posted by jerZ07002
assistant branch manager is one step above head teller. that barely qualifies you as working in finance. it is highly misleading to say you work for a financial institution when you know people associate that statement with working in investment banking and securities. |
It's actually not the next step from head teller here. We also do investment banking and securities here as well.
You done or want to keep going? :) |
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| jerZ07002 |
| quote: | Originally posted by DOOMBOT
It's actually not the next step from head teller here. We also do investment banking and securities here as well.
You done or want to keep going? :) |
yeah - i'm sure your branch handles major corporate M&A work as well as IPOs and debt issuances. we've never once had a conference call on a debt issuance with an assistant branch manager of a commercial bank. you're a fool. |
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| Capitalizt |
Aren't PHDs who work in "investment banking and securities" the ones who invented all these fancy derivative products that f*cked up our economy? Didn't the vast majority of them fail to see what was coming in 2007?
Why do they deserve our blind respect? Bush had an MBA from Harvard after all.. |
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| DOOMBOT |
| quote: | Originally posted by jerZ07002
yeah - i'm sure your branch handles major corporate M&A work as well as IPOs and debt issuances. we've never once had a conference call on a debt issuance with an assistant branch manager of a commercial bank. you're a fool. |
So because the bank you deal with doesn't that speaks for all of the others in the world? You're pretty funny. I love how you make these wild claims with absolutely nothing to back any of them other then your own personal experiences, which don't really seem to be many. Good luck with all of that, though. :D |
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| culorut |
| quote: | Originally posted by Krypton
Let me get this straight. You'r saying the Federal Reserve is printing money in order to buy treasury bills and then what? Selling the treasury bills and taking the proceeds and storing them in private banks this robbing the system of liquidity? |
Wrong, you still have no idea how it works. The FED's banks which are actually the FED because they are members of it create credit which they then turn over to the US Treasury and receive US Treasury bills.
They then can use the Treasury bills and get real money for them, dollar for dollar. In the mean time they charge interest on this money they basically got for free just by creating credit through their banks.
On top of this they can not account for Trillions of dollars as I proved by showing the federal reserves own employees having no idea where this money is. The loophole is they can claim operating costs which if you believe is in the Trillions of dollars per year you are the dumbest motherfuker on the face of this planet.
The money, credit, US Treasury bills, what ever you want to call it is lining the pockets of bankers and not being injected back into the country. If they knew where the money was they would have simply explained it like the "honest" private company which they are.
Prove me wrong and answer the question for the millionth time.
Where is the money? |
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| DOOMBOT |
| quote: | Originally posted by Capitalizt
Aren't PHDs who work in "investment banking and securities" the ones who invented all these fancy derivative products that f*cked up our economy? Didn't the vast majority of them fail to see what was coming in 2007?
Why do they deserve our blind respect? Bush had an MBA from Harvard after all.. |
Yeah but since they went to an expensive school and get paid lots of money, that completely wipes out the fact that they screwed everything up.
Awesome... :stongue: |
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| jerZ07002 |
| quote: | Originally posted by Capitalizt
Aren't PHDs who work in "investment banking and securities" the ones who invented all these fancy derivative products that f*cked up our economy? And didn't the vast majority of them fail to see what was coming in 2007? Why do they deserve our blind respect? |
aren't lowly assistant branch managers the people who peddled mortgages to unqualified home owners in the first place for those PHDs to package into securities?
blame should be shared by almost everyone, but doombot's implication that he has insight because he worked in a financial institution (which is misleading because he is actually a branch manager at a commercial bank - a position that requires no education above high school and no real understanding of the complexities of finance) is absolutely ridiculous. |
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| jerZ07002 |
| quote: | Originally posted by DOOMBOT
So because the bank you deal with doesn't that speaks for all of the others in the world? You're pretty funny. I love how you make these wild claims with absolutely nothing to back any of them other then your own personal experiences, which don't really seem to be many. Good luck with all of that, though. :D |
no ing bank has their commercial banking side (i.e., their branch managers) dealing with IPOs, debt issuances, and M&A advisory work. That is all handled on the investment banking side, far away from the glorified CSRs and bank tellers.
what qualifies you to handle M&A advisory work or debt issuances? my guess is absolutely nothing! |
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| DOOMBOT |
| quote: | Originally posted by jerZ07002
aren't lowly assistant branch managers the people who peddled mortgages to unqualified home owners in the first place for those PHDs to package into securities? |
Actually, we didn't do those types of mortgages. I work for a pretty conservative place, thankfully!!!!
| quote: | | blame should be shared by almost everyone, but doombot's implication that he has insight because he worked in a financial institution (which is misleading because he is actually a branch manager at a commercial bank - a position that requires no education above high school and no real understanding of the complexities of finance) is absolutely ridiculous. |
I believe I still had to prove I could fill the position, which I did. The success that we have been having here, while other banks are doing pretty bad, also speaks for itself.
You done or want to continue this? :haha: LOLZIES!!!! |
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| culorut |
| quote: | Originally posted by Capitalizt
Aren't PHDs who work in "investment banking and securities" the ones who invented all these fancy derivative products that f*cked up our economy? Didn't the vast majority of them fail to see what was coming in 2007?
Why do they deserve our blind respect? Bush had an MBA from Harvard after all.. |
They do not deserve anything, add to the fact they have know idea where Trillions of dollars of the peoples money is and we still have sheep arguing there is no need for transparency.
Best thread ever. |
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| DOOMBOT |
| quote: | Originally posted by culorut
They do not deserve anything, add to the fact they have know idea where Trillions of dollars of the peoples money is and we still have sheep arguing there is no need for transparency.
Best thread ever. |
But they get paid a lot of money. :stongue: |
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