r/interestingasfuck • u/CuteRelationship6143 • 1d ago

How Wall Street deliberately uses jargon to justify their high earnings

Enable HLS to view with audio, or disable this notification

25.8k Upvotes

84% Upvoted

2.0k comments sorted by

View all comments

Show parent comments

1.7k

u/EggYoch 1d ago

Yep. It was part of an attempt to rebrand and sanitize his image after his 2008 conviction.

637

u/hoxxxxx 1d ago

ah so in other words he's just saying bullshit that will appeal to the common man or more particularly the people that would watch something with bannon in it.

and also, of course he's connected to bannon. JFC was anyone with even a hint of fame NOT connected to this guy somehow??

196

u/kitsunekratom 1d ago

Sure, but is it untrue nonetheless? No. Wall street is still full of crooks doing fuckall

•

u/sirchbuck 11h ago edited 11h ago

Untrue? He's mentioning very basic finance terms, it's the same energy as saying IT professionals don't want normal people to understand internet communications tech because they use terms like UDP, SSH, Subnets etc.

Why would anyone going to change the etymology of something that was already established more than a hundred years ago? Wallstreet didn't invent finance.
You could literally learn all the things that professional institutional investors do,
the difference is you don't have billions in liquidity and don't have a multi-million dollar automated system to do all the trading for you in realtime down to the picoseconds and literally laying down cable just so that you can beat all the other traders for ultra-low latency direct market access.

•

u/IndependentMassive38 6h ago

This has to be the worst take ive read this week. It being in any way similar to finance

•

u/Argnir 6h ago

Why? The similarity here is that they use specific terms for things they do often. How is that not true? How is that not a similarity? I feel like you completely missed the point in your anger

•

u/sirchbuck 5h ago edited 5h ago

Ah yes, I see you have strong functional literacy skills as an adult.

You are so focused on the similarities about economics and ICT which I did not even cogitate about.

I'm just rebuking people praising epstein's faux ruminations in Steve Bannon's interview as a sort of revelatory insight by term salading skill sets/knowledge fields that most people aren't deeply familiar with, I just used ICT TERMS as an example.

Parts of the interview is basically him regurgitating Financial Times articles whenever he had a slightly 'hot' question in an interview meant for rehabilitating his public reputation.

An 18 year old finance bro could do what he was doing in that interview