Ode to the ‘Vampire Squid’
By now, everyone in the financial press has come across Rolling Stone political reporter Matt Taibbi’s comparison of Goldman Sachs’ business practices to the habits of the deep-sea vampire squid. Like many industry observers, I found the metaphor inappropriate, insulting, and inaccurate, to say the least.
After all, when was the last time a vampire squid made an astronomical profit betting against the US housing market and then awarded itself equally astronomical bonuses following a multi
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