If you happen to be sitting on the Goldman Sachs bond-trading floor, life must feel horribly unfair. You did nothing worse than live by the ethical assumptions of your market—any money-making event short of obviously illegal is admirable—and now your own grandfather thinks you’re some kind of monster. Your world feels upside down. What was right is now wrong, what was good is now bad, what once felt like winning now feels like losing. You’re probably wondering: What next? What will the angry rabble—all those ordinary people who can never really understand your business—now demand that you explain to them, so they can disapprove of you all over again?Here, for a start, is what the world beyond Wall Street is entitled to: Full knowledge of the inner workings of your proprietary trading desk.
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