

Other People’s Money: Jacob Goldstein and the Bonds of Wall Street
13 snips Feb 8, 2022
Jacob Goldstein, a finance reporter known for his work on NPR's Planet Money, joins to delve into the enduring relevance of 'Liar's Poker.' They explore how this iconic book uncovers the chaotic Wall Street environment of the 1980s and its impacts today. The conversation reveals the emotional ties investors have with money and the moral complexities of managing 'other people's money.' They also discuss the generational clash in finance practices and how AI is reshaping the industry.
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Wall Street's Structural Shift
- Wall Street shifted from partnerships to public corporations, impacting risk management.
- Traders now prioritize maximizing their value to the system over company loyalty.
Donnie Green vs. The New Guard
- Donnie Green, an old-school trader, embodied a resistance to the new, mathematically-driven Wall Street.
- His interaction with a young MIT graduate highlighted the generational clash on Wall Street.
Insider-Outsider Perspective
- Michael Lewis's insider-outsider perspective enabled him to chronicle Wall Street's transformation.
- He was a writer embedded in the world of finance, observing its evolution.