Thursday, September 18, 2008

I Am Right Again. Sorry

Around August '07 I was in conversation with a rather grand City figure (RGCF). He was doing the 'we know a thing or two, Bryan' nonsense. The trick is to suggest there is some permanent financial wisdom passed on like fob watches from generation to generation. I pointed out the absurdity of this, saying, at one point, that Goldman Sachs was an upstart with a rather improbable and fragile business model over the long term. He fell about, suggesting, as everybody once did, that GS was a company staffed exclusively by geniuses who, in time, would not only take over the world but also produce great works of art in the process. I am afraid, therefore, I cannot help deriving some satisfaction from the disintegraton of the investment bank business model, a disintegration which is even now besieging the rather tatty Camelot of GS. I must look up that RGCF; I do love a good crow.


  1. Whatever happened to that twerp with the beard from GS, you know, Blairs mate, Gavin whatshisname, to the tumbrels with him, off with his head.
    How much did the hooky herbert trouser from the deal ?

  2. Davies I think is the name. I think he went to the BBC and then resigned? Today's Herald Tribune has some rather revealing comments from Ivy League graduates who are having to reassess their choice of career. Its worth looking up.