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Next Steps: Visualizing Where Wall Street Went Next; Surprise - It Was Wall Street
Dealbook has compiled one of the best visualizations of the tangled web of where Wall Street's brass ends up after leaving their existing company a bailout burden to US taxpayers. Instead of facing perp walks, all the same players have merely engaged in the next round in the game of Wall Street musical chairs, and simply switched their corner offices: after all who is quite as qualified to lead the US economy into the abyss one more time? Is it any wonder then that as all the same people who got us in this mess are still busy collecting billions in bonuses, that the US economy and stock market will be led to yet another historic crash?
h/t Chris Whalen
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Wow. A picture is sometimes worth more than a thousand words.
Gonna print this out, put it on the wall and use it as a dart board
Old News! WS has always been taking care of their own! Since no one got jailed, where the heck you think they would go, eh?
This is a fold out. It must be with 3 more pages of missing information. For instance, where are the ones who started all this? aka Salomon Brothers (after listing, who became Citigroup) and LTCM - these are the guys who set the benchmark you could only trip over. Citigroup keeps it low as this collection of obese lobopods now use it to sun themselves on. Not having a backbone it's hard to climb anything.
Research your history. It won't make you sick, but it will make you more intelligent. It always amazes me how quickly the media forgets history, and the people just follow.
WOW!!!
From careful analysis of the presented chart, I would be very, very careful when considering Barclay's Capital/Lehman Retirement Camp for a potiential trade.
This looks like the genealogy chart from an Ozark hallow. Seems like the long-term effects of inbreeding are the same in both instances, as well. "Yer cousin shore make a purdy wife, Dale. You a lucky man."
Speaking of financial inbreeding, how is the House of Rothschild doing? Anyone know how well that inbreeding experiment is doing?
Great Post! Excellent piece of work.
But who hires them?
Like cockroaches, if you don't persist untill you have killed them, they will plague you always.
Seems odd that the Vampire Squid is not included in this chart.
Good point. They are the main culprits!!! They would need a chart 3x as big!
odd isn't it.............who was left out.
This is very easy shit.
People will look at this and go "who in hell would want someone who presided over such a monumental failure??!??!"
You're looking at it wrong. Executives don't hire or want a person who makes money "for the company," they want someone who will make a lot of money for OTHER EXECUTIVES. They don't honestly care a fuck if the corporation goes chapter 11, so long as the executive compensation packages were favorable to THEM.
Ownership needs to rise up and fire every one of these assclowns. They go from company to company and systematically bankrupt it, destroying ownership's investment and equity while pocketing megamillions for themselves. It's like if you hired a person to manage your rental condo and they went and signed massive HELOCs on it and took the cash and put it into their own pockets. That's how executives behave, as if the corporations they are entrusted with are their own personal Disneylands.
And not ONE of them was at fault for any of these failures - it was the fault of the little people for being deadbeats. An executive who worked for Chuck Prince would not say "Chuck is incompetent because he destroyed Citi," he'd say, "Chuck made ME a lot of money, I like Chuck."
This is the logical progression one would expect when the owners of a company do not manage it, the managers fleece the company. Corporations are a product of goverment and as such one shouldn't be surprise that they are also parasites on society.
That's a valid point, certainly.
Exactly why Enron hired Fastow who helped bring down Continental of Illionois (with those ill-conceived mortgage-backed securities of his) which made bundles for the execs there.
But I hope you were being sarcastic in repeating that popular Wall Street meme of the little people being deadbeats and therefore being the real fault?
As we all well realize, it was the Wall Streeters (banksters specifically) who were responsible for their ultra-leveraging, which in turn allowed for ultra-leveraged speculation, which was the real cause for the meltdown and final phase in the dismantling of the American economy.
<moved>
This is wonderful. And it gives me an idea.
Maybe we should start tracking 'financial offenders' like we do for sex offenders. Start recording their photos, physical descriptions, financial crimes, residential address, and most importantly - who they 'work' for now.
+1,000,000. Love it!
Yeah, I was thinking the same thing; all this chart is missing is home addresses. This will be an interesting civil war.
great idea. u better get ur domain name and start working on an app. don't forget to add markets for who will succeed and who will fail. i'd like to see the hfts try to get in that market.
From a distance, all I see in that picture is an interesting fascimile of a crop circle.
actually, it looks more like blobs of oil floating in the gulf of mexico.
perhaps it's time to get the cropdusters out to spray corexit over the streets of manhattan.
they'll sink to the bottom and i guarantee you the bagels will be safe to eat.
This goes with it:
http://4.bp.blogspot.com/_wkgIzuqJM0w/TJSUCxImunI/AAAAAAAAGHw/F80SB6WCTQ...
The whole situation is nauseating!
"Change we can believe in" has been cancelled. We now return you to another episode of "Crooks playing musical chairs."
anyone raising equity to short Andrew Gowers next corporate move?
Well spotted. From Lehman to BP as media supremo. Don't let him anywhere hear anything gold...
Iam surprised that GS name only seem to appear once in this picture... sounds odds..
vvvvv
Sort of like God... you need only mention it once.
"Between jobs" ...
Stan O’Neal, CEO Merrill
Joe Gregory, COO Lehman
Erin Callan, CFO Lehman
Ken Lewis, CEO BofA
Robert Willumstad, CEO AIG
Joe Cassano, CEO AIG FP
Warren Spector, Co-President Bear
... appears to mean "retired to spend more time with their lawyers"
who better to cherry pick the value out of the "toxic" assets than the people that put them together...same olde story. Hopefully the guvMINT will get out of the way and let the purge happen.
Plugs on CNBC oh my....lol
What I would like to see is a chart of such planets and moons depicting the shuttling maneuvers of the pols and bureaurats as they make their way from gov't jobs to private ones.
That's the "Good Ole Boy's Club" right thar! If'n you aint in? Then you's out!
Gods special little children.
Once more, bullshit chartism- a 2x circle should have twice the area, not twice the diamerter.
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