A Debt, the First Five Thousand Yearsis by Jim Grant
i was hoping you'd actually be here for some of this, because i wanted to continue our conversation. Um, we can cont o rap up history here. The eighties is particularly complicated in american banking and probly the most one of those infamous periods. There's us a great book by jim grant, call money the mind, just talks about this time. And ano wattetos, not oar, the one who kind of looks like a michael jones, isn't he a? Where's e? Bon stopple ganger? Ye, he does. He looked a lot like michaelm a little bit. But he e ye, i can see
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As a $60 billion a year investment bank engaged in market making and asset management for equities, fixed income, commodity and derivative securities for large institutional clients, Goldman Sachs, having been founded in 1869, is arguably the world’s most recognizable name on Wall Street. Known for attracting some of the best financial talent, it is both respected and feared, in some cases being accused of “ripping their clients off” in the relentless pursuit of profits. Defenders of firms like Goldman Sachs make a big deal about how they’re instrumental in the efficient allocation of (financial) capital, but one could argue the concentration of highly intelligent and motivated individuals operating what amounts to a glorified casino is a gross misallocation of human capital, robbing other critical sectors of talent that would otherwise have gone to engineering real solutions, not financial ones.
