Posted 5 years ago on Feb. 5, 2013, 10:27 p.m. EST by toobighasfailed
This content is user submitted and not an official statement
Pro Publica recently reported that traders at Morgan Stanley joked about how crappy a toxic asset was before they sold it to a foreign bank.
They named the asset such things as "Subprime Meltdown," "Hitman," "Nuclear Holocaust," "Mike Tyson's Punchout," and "s*bag." And then they sold it.
A very similar mentality can be seen with UBS traders, who were caught saying the following:
"I need you to keep it as low as possible... if you do that.... I'll pay you, you know, 50,000 dollars, 100,000 dollars... whatever you want..."
"as i said before - i dun mind helping on your fixings..."
"Anytime i can return the favour let me know..."
"JUST BE CAREFUL DUDE... i agree we shouldnt ve been talking about putting fixings for our positions on public chat..."
These are the guys who make the trades that require bailouts. Unbelievable: http://www.switchyourbank.org/things_traders_say