Michael Lewis: Bond Market Will Never Be the Same

Michael Lewis on the existential crisis of a modern-day Goldman bond trader:

If you happen to be sitting on the Goldman Sachs bond-trading floor life must feel horribly unfair.

You did nothing worse than live by the ethical assumptions of your market — any money-making event short of obviously illegal is admirable — and now your own grandfather thinks you’re some kind of monster. Your world feels upside down: What was right is now wrong; what was good is now bad; what once felt like winning now feels like losing.

You are probably wondering: What next? What will the angry rabble — all those ordinary people who can never really understand your business — now demand that you explain to them, so they can disapprove of you all over again?

Lots more here, including Lewis naming names, as well as demonstrating some new seriousness about this stuff.

Related posts:

  1. Why is the bond market so happy?
  2. Michael Lewis on Charlie Rose
  3. Michael Lewis: The End
  4. linkfest 02/11/08: Spitzer’s Targets, the Trouble with Michael Lewis, etc.
  5. Michael Lewis on Warren Buffett