Maserati wrote:
BTW schooled a retired bigwig banker yesterday on crypto, fiat, hypothecation, sderivatives. Was responsible for all large settlements with correspondent banks, 100’s of billions a day, staff of hundreds of people.
Was ignorant about IMF SDR’s, Basel capital standards, and capital controls. Such a consummate insider, fat F sitting back and collecting some bloated pension. I got the satisfaction of making him look small in front of his adult kids—who of course are also with the bank. This guy got his own job through nepotism.
So much ignorance all around, even at high VP levels. Unbelievable.
I did my undergrad at a university with a highly ranked business school. The kids in the business school were idiots who only got in on legacy status, graduated with a bunch of Cs (after cheating on every test), and then got jobs immediately on Wall Street working for daddy's (or a frat brother's daddy's) firm. I'd say Wall Street is about 95% that.