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by JackFr
2257 days ago
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I worked as a software developer for a subprime prop trading desk at a big bank from 2006 to 2009. Our two main RMBS traders were short from about 2005. They would get beat up every week in capital committee meetings, and were told “what is wrong with you guys, the guys on the dealer side are crushing it with this stuff”. Finally in 2008, these guys booked like $100 million in profits. But it didn’t matter at all cause the dealer side lost $50 billion. |
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