Coleman Church

On Wall Street, I think we were actually at the vanguard of hyper-regulation, hyper-monitoring.

I mean, they were...

monitoring every Bloomberg chat, every email, every phone call, everything was taped.

Then they ran algos against it for keywords.

You just like way more scrutiny in every way.

Yeah, I did.

And I think...

There's also, you know, a lot of going back to the global financial crisis is such a seminal moment in this country in a lot of ways, because it actually, we made this deal with the devil and I, you know, I, I, I'm a beneficiary of the bailout.

I worked at a big bank that got bailed out and, and, uh,

I'll never deny that, but in doing so, we let the Trojan horse in and we married the government effectively and they came in and they basically wrote our policies.

They wrote our policies for us and from HR policies to recruiting policies to all the regulation and the stuff that I saw from a distance in terms of sort of arbitrary fining for violations was

kind of gangster like and I saw a lot of good people sort of thrown on the funeral pyre sacrificed just just tossed out like let's you know this guy this guy was in violation these guys weren't but they were on the same Bloomberg chat so let's let's give like ten bodies everyone's fired everyone's careers over it was it was a that was a bad that was a bad time

It was a bad time.

And so everyone started trading scared.

Yes.

You know, if I were going to give a more sort of generous take on it, you know, the CEOs really didn't have much of a choice in some regard.

It was like, look, here's the deal.

You could keep your job and keep making $25 million a year.

Or if you agree to this fine for mortgage-backed securities or whatever, LIBOR rigging or whatever it is, this arbitrary number,

You can keep your job and you can keep your salary or you can get fired and the next guy will agree to it.