 The Wild Wild World of Wealth |  |
This morning, The New York Times reported New Year’s resolutions from a few prominent New Yorkers. Here’s what Eliot Spitzer had to say:
I would love to see investment bankers actually do God’s work.
Do we have any idea what qualifies as “God’s work?” Especially on Wall Street where everybody tries to destroy each other? I’ll take a stab at defining it:
Comment below so we can get to the bottom of this. I’d especially like to hear from Lloyd Blankfein.
I think you’re onto something, Mike. Do you think credit default swaps and collateralized debt obligations fall into the category of natural disasters?
Nike V says:If they cause suffering and poverty then they probably qualify!
Mike V says:Now if I could just learn to spell my name.
It’s with an M. 
Beth C says:Perhaps, Mr. Spitzer, God’s work is treating everyone – including your wife and daughters – with love and kindness and respect. The old “do unto others” Golden Rule.
But aside from that, I do applaud the thought re investment bankers. I’m sick of them and their “I’m smarter than everyone else and I deserve every million I get” perspective on their lives and their life’s purpose. And this with half my classmates from college and b-school in the industry,… Where are the George C. Marshalls of this generation?
It’s ironic that Spitzer and Ashley Dupre are both reinventing themselves in the blogosphere. I just wish he’d leave the self-righteous commentary at home: http://acrimoney.com/2009/11/16/croc-governor/.
That said, I agree bankers need a reality check. If world governments hadn’t intervened last year, there wouldn’t be any money for bonuses.
My guess is that banker greed will undermine our financial organizations over the long term. Congress will pass legislation that disassembles mega-banks and makes them less competitive abroad.
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"The Gods of Greenwich is a pure delight, racing relentlessly from the bedrooms of Manhattan to the boardrooms of Connecticut to the banks of Iceland. Bravo!”
God’s work could be that of causing major disasters: fires, floods, pestilence! Hence, you get suffering, disease, poverty. These are all things politicians love to step in and claim they can fix.