What parts of Liar's Poker do you still see in finance today?

I love Liar's Poker. It's my favorite book. My adoration for this story is probably shared by a lot of you fellow monkeys.

However, much of the industry has changed since that epic story came out in 1989. John Gutfreund is dead. Some would say everything has changed.

What remains?

 

I think Lew Ranieri is still alive and securitization is still a strong business model for originators. People still don't trust Wall Street.. that's not going anywhere. Also, I think Michael Lewis' observations on how bankers were becoming corporate mummies might still exist. And finally, kids are still lining up at the doors looking to get in. And don't forget about one thing that trumps all changes: COMPLIANCE.

But you're right, people aren't fat slobs drooling pizza grease in major firms anymore. A lot of the changes are good, while some are bad.

 

What changes are good besides the disappearance of drooling slobs and pizza grease? Maybe I'm misreading your post, but everything else you listed seems on the bad side of the spectrum.

"A modest man, with much to be modest about"
 

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