03 October 2010

These Contemptible F%$#s Are Our Betters?

Worst Conference Call Ever!
Ireland held a conference call on its debt, and due to an error in the settings, comments from the other participants were heard across the call.

So what did this collection of hedge funds and other investment firms do?

They crudely heckled the Finance Minister of a sovereign nation:
Mr Lenihan had been speaking for less than two minutes on Friday before a mistake by Citigroup meant that the bank's clients were all able to be heard on the line.

Between 200 and 500 investors are understood to have been on the call, and as they realised their lines were not muted many began to heckle Mr Lenihan.

Some traders began making what one banker on the call described as "chimp sounds", while another cried out "dive, dive". A third man said "short Ireland" before adding "why not short Citi too?"

As the call descended into chaos, with one participant heard to say "this is the worst conference call ever", Citigroup officials shut down the line.
We are not dealing with competent financial professionals here. We are dealing with hyper-competitive frat boys with brains the size of walnuts who are too incompetent to recognize their own incompetence.

This is why these people need to be "hit like a piñata with a stick," because they are incompetent, overpaid, self-obsessed, morons who have the ability to destroy our economy.

Letting them do what they want is like giving opposable thumbs, assault weapons and espresso to rabid wolverines.

It won't end well.


DJ said...

Unfortunately,  "incompetent, overpaid, self-obsessed, morons who have the ability to destroy our economy" are their GOOD points. They deserve to be drawn and quartered, not just hit with a stick.

Matthew G. Saroff said...

Being, "hit like a piñata," involves blunt force trauma until organs rupture.

I'm just saying.

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