A few years ago, our friend speculated that “someday all of Wall Street will be a museum.” We’re not quite there yet, although you can drop by the Museum of Finance’s credit crisis exhibit even while the crisis continues. But we may be a step closer now than we were a week ago.
You see, starting this week, if you’ve got $40 you can take Andrew Luan’s financial meltdown tour of the financial district.
Emily Schmall at the Big Money explains:
Luan quit Deutsche Bank last week after failing to get a bonus for 2008. Instead of leaving Wall Street, Luan (pronounced lew-en) has launched a financial meltdown tour, guiding packs of mostly European tourists around the epicentre of the collapse-and explaining his own role in the crisis along the way. (He shorted collateralized mortgage-backed securities, a move he claims helped save Deutsche Bank while screwing a number of counterparties.)
Luan admits to reaping an “obscene amount of money” as a CDO trader for Deutsche Bank. (“If I had gotten in five years earlier, I would never have to work again,” he laments.) But his roots are humble. As a child, his family emigrated from Taiwan to Queens. His dad worked odd jobs and his mother sold public life insurance to low-income residents in Chinatown. Luan says he’s ready to give back.
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