State Sanctioned Gambling
Okay, Wall Street. But with a twist.

I am sure a good many of you have seen "Boiler Room." I used to manage one. Well, not 'actually' but I was a manager at a firm that sold some pretty dicey small cap stocks.

When I left the Marines and went to Wall Street, I knew, to some degree that I would be selling my soul, but I had no idea how cheaply.

The catch with an Over The Counter brokerage firm/house that runs gamey stocks is to get your managerial license as quickly as possible. What that resulted in was 1) I was getting an override on all my subordinate broker's productivity 2) I was selling stocks and making my own commissions BUT more importantly: 3) I didnt have to sell the crap stocks that the firm pushed on those rookie brokers.

I dont sleep well at nights if thats any consolation because, well, those subordinates were selling absolute crap stocks to people who were looking to get rick quick on IPO's (initial public offerings) of tech companies and other types of new stocks.

My Father, when I was growing up used to say, whenever I would spend my money on something he perceived as 'silly': "A fool and their money."

My response was always: "Were lucky to get together in the first place."

I am REALLY not that much of a bastard though. When I started my own office, we made a market in NO crap stocks...but the basis for my personal fortune was having those poor schmucks that worked for me push crap stocks to THEIR customers.

God, I really AM a bastard...well, WAS a bastard. I hope this doesnt make any of you hate me (more than you already do of course)!

Cheers!
( Citadel Because the world needs less morons, Sun 3 Aug 2008, 5:57, 5 replies)

I erm...well y'see...

Sorry, what?
( Beejay Proper old bastard, Sun 3 Aug 2008, 8:32, closed)

I have no idea what any of that means
Apart from you worked in stocks and made some money.

Economics is not my forte, I've had someone spend an hour trying to explain subprime mortgages to me with no joy. I'm a good mathematician, but as soon as the concept of money gets involved my brain shuts down.

Anyway, what I gather from this is that you have a crisis of conscience over something you did in your wall street job, but it's probably okay, because you're having a crisis of conscience, rather than snorting coke off your merc dashboard and laughing about all the plebs that made your fortune, fnar fnar fnar. I think that makes you a decent human being.
(jabboy, Sun 3 Aug 2008, 11:33, closed)

Are you guys responsible for the stock-related spam?

( idonthaveafunnynickname Drink-Aware? Sure. I'm aware I want another drink., Sun 3 Aug 2008, 11:35, closed)

^^What Jabboy said.
We've all done some stuff in life we'd rather forget.

Anyway, you've re-addressed the karmic balance in your life by your charity work : )
( girlinthehole, Sun 3 Aug 2008, 12:42, closed)

Enough about the money and stocks and shares and stuff that we don't understand
Tell us about you in uniform

;)
( chickenlady b3ta's very own Elizabeth Taylor, Sun 3 Aug 2008, 22:33, closed)