Monday, August 09, 2010

Ex-Goldman Sachs Employee Compares Working At Bank To Being A 'Fluffer' On A 'Porn Set'

Ex-Goldman Sachs Employee Compares Working At Bank To Being A 'Fluffer' On A 'Porn Set': "Even for someone trained in quantum mechanics, Wall Street's complex securities and deals were nearly incomprehensible. And at Goldman, the 'quants' -- mostly failed scientists, the author writes -- were simply there to justify the money-making machine:

Peering into these deals was kind of like the zoomed-in penetration shot in a cheesy porn video: you could barely tell which end was up, which part was which, or, more importantly, who exactly was screwing whom. The quant aspect didn't really matter at the end, as one lacrosse-playing Penn graduate would agree on price via phone with another lacrosse-playing Cornell grad, and life would resume its speedy course to another deal.

The sad truth is: quants were the eunuchs at the orgy. The fluffers on the porn set of high finance. We were the ever-present British guy in every Hollywood WWII film: there to add a touch of class and exotic sophistication, but not really matter much to the plot (and maybe even conveniently take some bad guy's bullet)."

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