I posted this to the Wharton School of Business Blog:
Methinks the lady doth protest too much. Perhaps because the Wall Street geniuses that created the CDO’s and other secondary market instruments disproportionately hold Wharton MBA’s? Maybe a little ethical integrity and honesty from those Wharton MBA’s might have avoided some of this.
Did any of those brilliant Wharton MBA’s warn the pension fund trustees (fiduciaries) that you really can’t turn interest only tranches of subprime second liens with 10 points of underwriting commissions and fees into an investment grade instrument? I didn’t think so.
The billion dollar bonus babies on Wall St. are going to have a much tougher time endowing U of
P Wharton School of Business, now that this latest MBA Wall Street scheme has unwound. They will be off to create their next scheme.
I am embarrassed that Ms. Phillips holds the same position at Wharton that my grandfather, Thomas A. Budd held. He is spinning in his grave…
Thomas Johnson says:
I posted this to the Wharton School of Business Blog:
Methinks the lady doth protest too much. Perhaps because the Wall Street geniuses that created the CDO’s and other secondary market instruments disproportionately hold Wharton MBA’s? Maybe a little ethical integrity and honesty from those Wharton MBA’s might have avoided some of this.
Did any of those brilliant Wharton MBA’s warn the pension fund trustees (fiduciaries) that you really can’t turn interest only tranches of subprime second liens with 10 points of underwriting commissions and fees into an investment grade instrument? I didn’t think so.
The billion dollar bonus babies on Wall St. are going to have a much tougher time endowing U of
P Wharton School of Business, now that this latest MBA Wall Street scheme has unwound. They will be off to create their next scheme.
I am embarrassed that Ms. Phillips holds the same position at Wharton that my grandfather, Thomas A. Budd held. He is spinning in his grave…
October 18, 2007 — 7:52 pm