Trading firm makes most obvious trade possible in the software talent market, tonight! on Business Insider.
It would be funny if over the long term, going to work in the games industry actually became worth it financially simply as a signal to more lucrative firms that you're a strong, machine-sympathetic systems/performance developer that can thrive even in the most toxic imaginable environment.
We're not there yet though so, on the off chance that you're 17 and thinking about getting an entry level job at a game company: pick something else.
"In November 2013, JPMorgan Chase, the nation’s largest bank, agreed to pay a then-record $13 billion fine to federal and state authorities in order to settle claims that it had misled investors in the years leading up to the financial crisis."
I guess when you're a top tier 10x developer you get to either destroy the social fabric of the world or destroy the world economy.
That is a very univariate understanding of what happened.
I highly advise a more multivariate approach where the causes and effects are more deeply understood than spinning a story against one company, much less everyone who works at that one company. I'm not sure anyone would survive that scrutiny.
Sure thing, send me over some links of things you think frame the 2008 Financial crisis in a better light.
I pasted a quote from an article, provided the source and gave my opinion of JPMorgan, staring with the words... "I guess..." If that is spin to you, I don't know what to say.
The funny thing is that I gather you didn't read the article. The last paragraph actually talks about how Dimon was spinning the whole thing all along:
Dimon had harsh words, of course, for the Obama administration over his belief that his bank was treated unfairly by the Department of Justice in the $13 billion settlement. Instead of penalizing the bank for its bad behavior, Dimon argued, it should be celebrated for helping to save the financial system from its further free fall. That may be true to some degree, but Wagner’s 92-page draft complaint puts the wood to Dimon’s spin machine and shows that he and his colleagues at the bank were no different than the rest of the Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid into securities that they could sell to investors for big fees. Dimon’s pay package for 2013, the year of the big government settlement, was $20 million—a raise of 74 percent from the year before.
>Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid
Who underwrite the loans? Who recommended the loans be written?
The whole thing is complicated. A single article is nothing more than a start.
I'm ony phone, but I highly suggest researching each party and their justifications for their actions and make your own conclusions rather than expecting some external source to spoon feed it to you.
It's my opinion that big banks are good for nothing. yes, I do believe people should take a little moral inventory before joining an institution that has a history of penalties like this:
Top 10 Primary Offense Types
toxic securities abuses
$13,450,500,000
mortgage abuses
$5,411,600,000
banking violation
$4,012,350,341
anti-money-laundering deficiencies
$2,161,000,000
False Claims Act
$614,000,000
foreign exchange market manipulation
$550,000,000
consumer protection violation
$520,500,000
investor protection violation
$434,054,000
securities issuance or trading violation
$427,324,210
energy market manipulation
$410,000,000
this is the top 10. That is around 27 billion in penalties for non-trivial violations.
So you agree with Steve Bannon. I'm not saying you're wrong, I'm saying you're over generalizing. And you would never accept other generalizations like the one you're making.
For instance the democratic party is good for nothing because Anthony weiner is in jail for soliciting sex with a minor.
You could make that argument. Still too one sided.
Not at all. My point was poorly worded. What I meant to say is that it's sad that the companies that can attract (or poach in JPMorgan's case) top quality talent are the ones that typically have questionable business practices. I'm older, I've got two young kids and I am legit concerned where this world is headed.
I suppose at the end of the day I'm just more Good Will Hunting than Patrick Bateman.
9 comments
[ 3.4 ms ] story [ 31.5 ms ] threadIt would be funny if over the long term, going to work in the games industry actually became worth it financially simply as a signal to more lucrative firms that you're a strong, machine-sympathetic systems/performance developer that can thrive even in the most toxic imaginable environment.
We're not there yet though so, on the off chance that you're 17 and thinking about getting an entry level job at a game company: pick something else.
I guess when you're a top tier 10x developer you get to either destroy the social fabric of the world or destroy the world economy.
Link: https://www.vanityfair.com/news/2017/09/jamie-dimon-billion-...
I highly advise a more multivariate approach where the causes and effects are more deeply understood than spinning a story against one company, much less everyone who works at that one company. I'm not sure anyone would survive that scrutiny.
I pasted a quote from an article, provided the source and gave my opinion of JPMorgan, staring with the words... "I guess..." If that is spin to you, I don't know what to say.
The funny thing is that I gather you didn't read the article. The last paragraph actually talks about how Dimon was spinning the whole thing all along:
Dimon had harsh words, of course, for the Obama administration over his belief that his bank was treated unfairly by the Department of Justice in the $13 billion settlement. Instead of penalizing the bank for its bad behavior, Dimon argued, it should be celebrated for helping to save the financial system from its further free fall. That may be true to some degree, but Wagner’s 92-page draft complaint puts the wood to Dimon’s spin machine and shows that he and his colleagues at the bank were no different than the rest of the Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid into securities that they could sell to investors for big fees. Dimon’s pay package for 2013, the year of the big government settlement, was $20 million—a raise of 74 percent from the year before.
So, sure, enlighten me friend.
Who underwrite the loans? Who recommended the loans be written?
The whole thing is complicated. A single article is nothing more than a start.
I'm ony phone, but I highly suggest researching each party and their justifications for their actions and make your own conclusions rather than expecting some external source to spoon feed it to you.
Top 10 Primary Offense Types toxic securities abuses $13,450,500,000
mortgage abuses $5,411,600,000
banking violation $4,012,350,341
anti-money-laundering deficiencies $2,161,000,000
False Claims Act $614,000,000
foreign exchange market manipulation $550,000,000
consumer protection violation $520,500,000
investor protection violation $434,054,000
securities issuance or trading violation $427,324,210
energy market manipulation $410,000,000
this is the top 10. That is around 27 billion in penalties for non-trivial violations.
You can download every one of these records here: https://violationtracker.goodjobsfirst.org/parent/jpmorgan-c...
For instance the democratic party is good for nothing because Anthony weiner is in jail for soliciting sex with a minor.
You could make that argument. Still too one sided.
Wait are you saying that game developers are destroying the social fabric of the world?
I suppose at the end of the day I'm just more Good Will Hunting than Patrick Bateman.