Excessive Greed

Greed - n. An excessive desire to acquire or possess more than what one needs or deserves, especially with respect to material wealth.

Much of America has a certain disdain for outrageous compensation packages that are reported in the media daily. I read the same newspapers as the rest of the general population, and can't even imagine what type of job would command a salary and bonus of $125 million. Perhaps that type of salary would be justifiable for the researcher or doctor that cured cancer, but certainly not the CEO of an Investment Bank, charged with allocating resources. Since we're playing the blame game, who else displayed greed?

When investors demanded and received returns that were uncharacteristic as a result of the financial engineering that was taking place on Wall Street, was that also not greed? Was it not greed, when that irresponsible family was willing to sign an ARM to enact their version of the "American Dream," and own a house that they could not reasonably afford? The point is, at every level there was greed, and once the train gathers enough steam it becomes uncontrollable - until the wheels fall off. I think it is safe to say, the wheels are falling off, if they haven't already.

There is a reason greed is considered one of the seven deadly sins, but it wasn't just pirates on Wall Street who were greedy as the media would love to have you believe.

Questioning Finance

Sellout - slang. a person who compromises his or her personal values, integrity, talent, or the like, for money or personal advancement.

When is it appropriate to start seriously considering the term? While I think of myself as a whore to the industry, I haven't capitalized on any opportunities to seize wealth or advance personally.

Why work in finance? As far as I can see, the goal is to get rich beyond anything imaginable at the expense of the majority of the world's population, while not creating any value. When that hasn't happened, what are you left with? A job that you aren't overly excited about going to on most mornings, a looming fear that tomorrow might be the day that they call you in to see the coach with your playbook, and a head of hair that suggests you're fifty seven. So I've battled with the term, but hardly think it is applicable as demonstrated by my penchant for pb&j sandwiches.

"This above all: to thine own self be true..." vs. the Adam Smith theory of acting in one's own self-interest.