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Wall Street analyst explains hedge funds and why he supports OWS.

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From Reddit.

From the comments:

i work in the hedge fund and proprietary trading world. i used to have a “director” rank of a department when i was fulltime, but now am a highly paid consultant with clients in chicago and NYC. i appreciate your candor, and for those who wish to know, 99% (pun no intended) of what he says is more or less true. in the derivatives space it gets even weirder, not to mention HFT and algo trading, which i am also a part of. i am curious as to what got you into the field, and now that you know what you know, why you remain. if you are anything like me, it’s a complicated answer, i’m sure. right now, i do find i have front row seats as to how all this works, and if i leave, i’ll be an outsider. i also know others in the business who are indeed sympathetic to OWS, but are laying low. some folks actively take the back door into work as to avoid the protesters. they’re not shunning them, but i think it’s a complex cocktail of fear and shame. the culture of this world is STRONG. it is not clear to me how to “fix” things nor is it clear to me what to tell people what to do about it. happy to connect with others in the business. wish we could all have beers and a whale of a conversation. any thoughts you may have would be greatly appreciated. relevant link just posted on propublica:

Contrary to conservative’s assertions, it’s not just a bunch of lazy hippies, and this isn’t just going to go away.  People are not just tired of getting screwed, others are tired of being involved with the screwing.

Here, in a nutshell…

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… is what the Occupy Wall Street protests are all about.

I am the 99%.

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I am 42 year-old married father of two who has spent from 2007 until now trying my best to outrun a recession that I feel has been breathing down my neck.  I am fortunate enough that both my wife and I have good jobs and stable incomes right now, but there was a time not that long ago that I was laid off twice in 6 months and when I wasn’t sure if my next paycheck was going to come, let alone clear.  I busted hump, pressed flesh, kissed ass, and basically had to prove that I was hungrier, more aggressive, and just wanted it more than my competition to get the job I have now.  The sad thing is that all 124 people who wanted the same job I got have it a lot harder.

I am the 99% and so are they.