Watch the investment bankers when the asset sales start – they can screw us without our noticing

May 25, 2011

Alf recently posted an item on bonking bankers.

Today he draws his constituents’ attention to their flair for screwing their clients – in the US, at least – when they are not screwing their mistresses.

A particulary shabby case has been highlighted in The New York Times.

The item spotted by Alf kicks off with a proposition that is glaringly obvious:

If there’s one thing we’ve all learned in the aftermath of the financial crisis, it’s that stiffing your client is not a crime. Not if you’re an investment bank.

The writer illustrates this with a couple of examples.

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