U.S. Politics

[Johnny English]

The NRA have apparently said that they would support legislation outlawing the sale of bump stocks.

I wonder how many bump stock manufacturers contribute significant money to the NRA's lobbying efforts.

[SixFeetDeep]

https://www.forbes.com/sites/eriksherman/2017/10/06/bank-behind-fearless-girl-statute-fined-5m-for-underpaying-women-and-minorities/#176bbca76909

Yeah, I lol’d

[SixFeetDeep]

The NRA have apparently said that they would support legislation outlawing the sale of bump stocks.

I wonder how many bump stock manufacturers contribute significant money to the NRA's lobbying efforts.

http://www.cnn.com/2017/10/05/politics/bump-stocks-regulation-atf-las-vegas/index.html

[Tommy]

https://www.forbes.com/sites/eriksherman/2017/10/06/bank-behind-fearless-girl-statute-fined-5m-for-underpaying-women-and-minorities/#176bbca76909

Yeah, I lol’d

Ha. This is why I hate when corporations get involved in social issues. The buy-side is overwhelmingly male so it's no surprise that if you compare average salaries between the two groups that you'll find a disparity. Having spoken to many many many asset managers of large and small institutional investment firms, I can tell you that women just aren't a good fit, and unless the candidate is some sort of finance genius she'll always lose the job to a man regardless of her experience. Blame all those frivolous sexual harassment lawsuits, their emotional mood swings that affects their ability to manage a portfolio, or the fact that they just don't have the stamina to handle the demands of being a trader.

Before Puck jumps in, I'm speaking more of equity trading not bonds. Not sure what the female makeup is on that side since it's less volatile.

Anyway, you'll see more women in investment banking since that's more project management and marketing, coupled with finance of course, than securities trading.

Anyone who's in the industry knows that the statue is such a pathetic attempt at positive PR. freak outa here.

[Tommy]

http://www.cnn.com/2017/10/05/politics/bump-stocks-regulation-atf-las-vegas/index.html

The most telling part of this is that Congress passes laws without knowing a damn thing about what they're doing. That goes for both sides. How the freak can the Democrats call for reform without even knowing that these things exists, and the Republicans defend the bill without even knowing these things exist? It's their fuckn job.

Par for the course I guess.

"Look, I didn't even know what they were until this week, and I'm an avid sportsman," the Wisconsin Republican said in a clip of the interview that aired Thursday. "So, I think we're quickly coming up to speed with what this is. Fully automatic weapons have been banned for a long time. Apparently this allows you to take a semiautomatic and turn it into a fully automatic so clearly that's something we need to look into."

No, that's not an excuse. Congress is responsible for legislation, so how can you effectively legislate when you don't even know much about the industry you're trying to regulate?

Now we're going to have a bill specifically banning bump sticks and everyone will pay themselves on the back.

Typical.

[Miamipuck]

On the municipal end there are quite a few female muni traders. I don't know the percentages but the company I worked for it was close to 50/50. However, in the bigger company I worked for it was more of 85/15.

I did do business with quite few buy-side women on the fixed income side. For the most part, they were really cool, I got along well with them. There was nothing in their DNA which made them any less capable at their jobs.

[Tommy]

On the municipal end there are quite a few female muni traders. I don't know the percentages but the company I worked for it was close to 50/50. However, in the bigger company I worked for it was more of 85/15. I did do business with quite few buyside women. For the most part, they were really cool, I got along well with them.

Yeah, that makes sense. Probably the most female-friendly derivative. I've sold to investment management firms (mostly equity but corporate HY and distressed debt for a few years) and rarely ever interacted with a woman who wasn't an analyst.

[ukilledkenny]

What makes the black dudes not as good for the job? Lol

[Tommy]

Funnily enough workplace demographics are actually very useful from a salesperson's perspective. Women will almost always spend a few seconds more on the phone to help you find the right person but won't introduce them herself, never. Men are the opposite. Also, women are going to haggle way more and will very rarely be the one to be the champion for the service. I always thought it was because they subconsciously don't want to seem like they're spending the company's money willy nilly and perpetuate the stereotype. Likely an unconscious move, but people do notice.

[Tommy]

What makes the black dudes not as good for the job? Lol

Low pool of candidates. Also, many of these jobs are in very high demand so a major factor is connections and people you know. If there aren't many African Americans studying finance in good schools in the first place, then it'll be tough for them to make those connections and network enough to get themselves in the door. Nothing to do with racism.

I've seen way more blacks in Wealth Management, where you can still make a excrement load of money, but they usually have to work their way up like others who aren't part of the "bro network".

[Miamipuck]

What makes the black dudes not as good for the job? Lol

I know a black guy that had his own fixed income shop and did very well getting deals because they needed (x) amount of minority dealers involved in new issuance. That said, he is one of the biggest assholes I have ever met in my life. It isn't just me, the next person that says a good thing about him will be the first. Now I won't dispute his intelligence, I am pretty sure he's smart, he just deserves to be beaten to an inch of his life.

[Badger]

Joe Biden misses the old days when you could just chill with segregationist Democrats like it was nbd.

https://twitter.com/JStein_Vox/status/916420535692742656

[Fenwyr]

What makes the black dudes not as good for the job? Lol

They get periods and don't have the stamina.

[dcm1602]

http://www.cnn.com/2017/10/05/politics/bump-stocks-regulation-atf-las-vegas/index.html

Whose gonna trust CNN on this one

https://www.google.com/amp/www.theblaze.com/news/2017/10/07/cnn-mocked-with-hilarious-reaction-for-showing-rifle-with-grenade-launcher-while-talking-bump-stocks/amp/

[Fenwyr]

Whose gonna trust CNN on this one

https://www.google.com/amp/www.theblaze.com/news/2017/10/07/cnn-mocked-with-hilarious-reaction-for-showing-rifle-with-grenade-launcher-while-talking-bump-stocks/amp/

Does anyone watch cnn anymore?