The next line of failed banks

*** This has been put in the section 'Posts I wish I could take back.' Reason below. ***

Failed and greedy bankers at the country's top banks are leaving en masse to either retire early (good, get the hell out) or to start life over again at up-and-coming banks (oh shit). Some experts say this is good in that Wall Street is being spread out. No longer does everything have to be concentrated to a few of these aforementioned assholes, and when they fuck up we all get fucked up. But some dickwads are hell-bent on proving those optimistic (and maybe myopic) experts wrong.

The New York Times dug up some of these smaller banks and found that hundreds of people who used to work at the larger institutions have been migrating to the smaller ones to utilize their shitty ambition and fuck up the economy again. Some of these boutique firms are Aladdin, Broadpoint, Pinetum Capital, and BTIG.

Lee Fensterstock, CEO of Broadpoint (which hired more than 240 people in about a year and a half), said: “We have the opportunity to step into the shoes of a Bear Stearns or a Lehman.” Michael O'Hare, some guy who used to work for JPMorgan Chase and who is now looking to make his kill at LaBranche Financial Services, said: "We are attracting people from Merrill, from JPMorgan, from Bear. I’m not talking the second tier. We have the cream of the crop." YOU FUCKING IDIOTS!!! We don't want you to become another Bear Stearns, Lehman, or JPMorgan!

Oh wait, I'm looking at it from the rational average American's perspective. Let's try the other side's: Man, this is gonna be the SHIT! Hey fellas, let's go absolutely batshit like we did last fall. We can't really fuck up. If we make horrible loans and go down, the government will hand us the money by going all puppy eyes on them...AGAIN! Then the cycle continues until we're all old and reminiscing on the Florida golf course. HAHAHAHA!!

Bottom line: Obama, Geithner, et al have to make it where banks can't grow beyond a certain percentage of the nation's GDP, and dramatically scale back the leveraging rate. That way, we all don't feel the pain if and when they leverage the shit out of their loans and grow into uncontrollable behemoths. Make the banking system boring again.

Update 06.19.10: Here is where I put my foot in my mouth.