A Wall Street Trader Draws Some Subprime Lessons Michael Lewis Bloomberg News, September 5, 2007 Laura Shalayeva IES09069

After Bear funds blew up….. This is what happens when you lend money to poor people…Finance is one thing you should never engage with the poor

1. They're masters of public relations “No good deed goes unpunished”

2. Poor people don’t respect other people’s money in the way money deserves to be respected “You people don’t like the deal, you just wave your hands in the air and moan about how poor you are. Then you default”

3. Grown out of touch "poor culture"

4. Our society is really, really hostile to success 4. Our society is really, really hostile to success. At the same time it’s shockingly indulgent of poor people. “the poor people could work off their debts”

5. It's time we all become more realistic about letting the poor anywhere near Wall Street. Business only with rich people Pension fund money (nothing under $50 million)

“But never again I will go one-on-one with poor people “But never again I will go one-on-one with poor people. They are sharks”.

Thank you for attention!!!!