Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktDo you ever follow links that lead to other links and then even more links, I do. Hence, I came across this piece today, an anthropological study of bankers being conducted by a Danish anthropologist. He’s even launched a blog to discuss his findings. As a matter of fact it just went live today (link to blog at the end of the article). I took a couple of anthropology courses in college and they were two of my favorite classes, probably because I preferred anything to math or biology, but still.
Here are a couple of excerpts from the piece. We probably don’t need another blog to visit but you never know.
Another banker who would talk but declined to sit for a portrait, compared his work to that of a GP: “You spend many hours memorising terms (body parts, diseases, treatments) and learning to recognise patterns. Then you put in very long hours and collect a nice salary, while employing your jargon to intimidate outsiders.”
That’s the sort of thing I’ve been talking to bankers about, and why I am beginning to be captivated by them. Beneath the layers of lingo there are subcultures and dress codes and ways of speech, their mutual stereotypes, conventions, taboos and of course jokes: “Every economist knows that there are three kinds of economists; there are those who know how to count, and there are those who don’t.”
Now for the blog. Here’s the idea. You have the internet and today’s technology. You have the classic techniques of narrative journalism and anthropological fieldwork. And you have this enormously important yet devilishly complex thing called the world of finance.
Like most anthropologists he worries he’ll get too close to his subjects but,
Still the bankers are getting under my skin. If there’s one thing that has suddenly begun to annoy me no end it is categorical statements about “the banks” or “bankers”. I have learned by now that such generalisations obscure just how different many of the activities across the financial sector are. If you are angry about “the banks”, you need to specify which parts. Otherwise you are like somebody who blames the BBC for what happened at News of the World; they are all the media, aren’t they?
And here, a discussion with a lawyer friend, after observing a room full of lawyers, he compares their dress code to that of Merger & Acquisition bankers. Funny but interesting if you believe that bankers are people too.
He then proceeded to compare this to the outfit of an M&A banker. These may dress in a very flashy way and drive very expensive cars. The reason is, they are selling companies for their clients, making these clients very rich. If an M&A banker radiates wealth and success, potential new clients will not think: am I paying too much? Potential clients will think: this guy has made other people very rich, he must be very good, I am going to hire him so he can make me very rich too.
http://www.guardian.co.uk/commentisfree/2011/sep/14/bankers-anthropological-study-joris-luyendijk
The obvious conclusion of course is that none of us should demonize entire swaths of either an industry, political party or any identified group of people.
*Administrative note: I’ll be publishing an open thread this evening (not too early) so we can all discuss the days events, the Plumline (just kidding), our blog or whatever suits your fancy. I thought we’d try it and see if everyone likes it. I think I’ll call it Go To Bed (not really) unless anyone has a better idea.
Filed under: Uncategorized |
All Things in Moderation 
I know lots of bankers. We never talk politics.
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Outstanding lms. More on this later, but generalizations about "the banks" or "bankers" ahve been driving me bonkers since, well, since I started posting on PL.Great economist joke, BTW.
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OT: Would someone (using the updated interface) go to the backend ("Design") and then, on the left hand menu, select "Settings". Then, select "Moible and email". And tell me if you see my email address there. Or if you don't. I see it in the Comment Notification Email and the "Email Posts to", but I don't know if each person can set that up for themselves, or if it's global so only one person gets to. As it is, it's handing to keep track of new comments–I just have 'em emailed to me, and moved to a special folder, and so even if I don't end up replying to everything I can at least make sure I read everything.
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OT (sorry!), I'm testing this to see if adding a separate address to that list will also send comments out, via email, to another address. If so, even if it is global, anyway who wants to receive comment notifications via email just add their email address to that field.
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And welcome, Michigoose! Very good to see you. We're forming quite a committee. BTW: I was thinking of inviting two other people. I'm not sure they'd accept, but I'd like to share a forum with like this with some old (and not so old friends). But I don't really have any example I can point to–I can just give you my word that I think they would be positive contributors, if they decided to participate.Not sure how we should approach other folks that we in the group know, but can't really point to. I should probably just see if these particular folks would even be interested; they might not be.
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Well they may be nice bankers but it sure is annoying to see the euro debt converted to dollars as John and I were discussing on the MP…and it solves nothing of the solvency crisis causing the liquidity crisis, it just kicks the can, to the dollar. "The move by the Federal Reserve, Bank of England, European Central Bank, Bank of Japan and Swiss National Bank follows fears about the exposure of banks – primarily those in Europe – to eurozone sovereign debt.European [private] banks and their American counterparts have been moving funds out of Europe in recent months because of these exposure fears, worsening the liquidity problems in the eurozone banking system.The new loans are being issued in dollars, because [!?] European banks can already access additional euro funds from the European Central Bank. [hmmm, so why don't they?] Three additional three-month loan offers will be conducted in October, November and December."Another month another round of bank bailouts.
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kevin…yes, I see your e-mail. There can be up to 10 e-mails there.
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Before we beat ourselves up too much for generalizing about bankers, we should realize that bankers obscure their business so that the average person has not a clue what they do. If people can only talk about bankers, and particularly Wall Street banks, by making distinctions between the M&A guys and the analysts, the debt guys and the equity guys, the institution guys and the retail guys, there will be no discussion of Wall Street bankers at all.
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that bankers obscure their business so that the average person has not a clue what they doThat really does sound like IT support. And we have trained the users well to not ask questions. We have user support, server support, website development, programmers, (and more), and the areas are not mix n match.When programmer screws up and the app doesn't work, I get the brunt of it. When some bulldozer operator cuts the main trunk in the US, it is my fault.I never, ever thought that I would be in any way sympathetic to a banker, or the banking institution.Scott, I just might not ever say a mean thing to you. Amazing things have just happened.
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Taroya you're not going to go all soft and sappy on us now are you, your avatar will be a periwinkle unicorn with doe eyes and pink wings?
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12Bar:Before we beat ourselves up too much for generalizing about bankers, we should realize that bankers obscure their business so that the average person has not a clue what they do.In other words, before we beat ourselves up about making sweeping generalizations, allow me to make a sweeping generalization.I am a banker, and I can assure you that I don't take steps to obscure what I do so the average person doesn't have a clue what I do. In fact I often go out of my way to try to make it easier for people to understand what I do. The fact is what I do is obscure and most people won't have a clue what I do all without me trying to make it hazy. The notion that derivatives, or m&a, or many of the other things that go on in the financial world are easily accessible and understandable to the average person, but for the obscuring efforts of bankers themselves is, well, wrong.In fact, most people don't have a clue about most occupations apart from those that they do themselves or have some kind of experience with in their every day life (like teachers as students, or plumbers as someone who needs their toilet fixed.) Most people probably don't have a clue about what a psychiatrist for the criminally insane does either. Does that mean shrink is obscuring what he does so people don't have a clue?
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Funny thing is everyone is an expert about psychiatry, they have firmly held, detailed, even if grotesquely uninformed opinions about the terminology, our intentions, our competence, the drugs, "shock" therapy, who is crazy and who isn't, you name it, it is remarkable and unlike any other branch of medicine.
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I'm not contradicting your point Scott, just making an observation. I never tell strangers about what I do at parties n'such, or I might get a two hour lecture.
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I'm certainly not endorsing the idea that all bankers are awesome and kind-hearted, but I am endorsing the idea that we don't always know what is going on behind the scenes and they may not all be evil. For those who have committed crimes or even mis-calculations there are probably just as many or more who were just doing their job and were clueless to what was building in the real estate and mortgage industry. The point I think is we shouldn't paint with broad brush strokes, and even though we all know it, we still do it. I'm just as guilty as the next guy so I thought it was an interesting piece and I picked bankers in the spirit of our new blog intentionally, to show good will.The other day I was discussing personal responsibility and qb said my conservative slip was showing. And I thought, is there some reason why personal responsibility is always inconsistent with liberalism or is this just another stereotype and group identity issue?
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shrink…I admit that I haven't a clue about psychiatry and have only the most elementary grasp of the terminology or what it means.When it comes to comedy, however….
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When it comes to comedy, however…….. you still only get a B. I knew I'd get your attention with that piece Scott. I bet you were worried at first though.
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Soft and sappy with unicorns? Ssshhhiiitttt, not hardly! I don't even watch romantic movies, and the Titanic just pissed me off.Although I cried at the end of the new Battlestar…..
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m&a, or many of the other things that go on in the financial world are easily accessible and understandable to the average person, but for the obscuring efforts of bankers themselves is, well, wrong—–Ah, but, I bet nobody goes all glaze eyed when you try to explain, though.
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"Soft and sappy with unicorns? Ssshhhiiitttt, not hardly! I don't even watch romantic movies, and the Titanic just pissed me off."Atta girl, we're good.
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Where is this links gadget kevin is talking about? Is that the same thing mcwing was talking about last night, a link dump?
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lmsinca: "SITES TO VISIT IN MODERATION", right over All News in Moderation. Right under "Popular Posts". Click on the wrench and screwdriver button to edit.
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The comparison of client attitudes toward lawyers and bankers is sometimes very true. Day end thread name? Endless possibilities. The Last Ditch would be earthy.
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Oh sorry, I thought you were talking about an idea that mcwing had last night. He thought it would be a good idea to drop interesting links with a brief commentary that didn't warrant a post.
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how about, Evening Scrapple
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qbI'll go with Last Ditch Effort and publish at 8:00 pm whatever time zone it is we're using. I rarely watch clocks except at 3:00 pm when our day ends with UPS. If anyone wants to change it or drop a link or something in I'll put it up now as a draft.
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I have dealt with many fine commercial bankers who knew their business and understood the business[es] I was representing. Their advice was solid. Their lending was smart, as was the occasional refusal to lend. I have dealt with bank trust officers who knew their stuff.================================I have known two bankers who were crooks.================================I worked for an investment banker a long time ago. I do not want to speak ill of the dead. Let us just say selling blue sky is not an expression that was invented for every industry and service.So I cannot buy these generalizations any more than I would for lawyers. On the other hand, my wife, the CPA and tax specialist, whom I love dearly, is pining for a dramatic series on TV that would feature a CPA. I just do not see it happening.
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'Sex and the CPA''The CPA and the Vampire'help me here
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"Trolling for CPA's"
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Tax Law Passion
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Accounting Tricks
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Settling Accounts– sexy CPA exacting revenge for hire, throw in vampire boyfriend, bam.
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revenge audits and accounting sabotage that is
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My Life as an Undercover CPACPA's on the Move
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Cougar CPA's on the Hunt. Hollywood CPA's. CPA's After Dark.Each one of the titles would garauntee 100 episodes (and syndication.)
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Caged CPA's.
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CPA and the Fat Man(sorry mark)
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Haha, now I know how Greg feels. When everyone sees the number of comments they'll think I'm brilliant.
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Hypersmart, sexy but quirky CPA solves unsolvable crime a week with preternatural accounting skills, wearing low-cut tops, taunting office stalkers, shiny/trendy apartment kitchen, sporty car — call it any name you want.
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Lucy Liu in the leadAccounting Angels
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Thanx, all – you made my wife's day and she thinks there's a pilot in there…
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