Too Honest to Succeed

 
PullingHairLabel this a rant. It’s one of many examples of people being clueless, overconfident, and criminal but landing on their feet and doing better than all of us who are honest, smart, and careful.

Today I’m adding Fabrice Tourre, also known as The Fabulous Fab, to my list of people who succeed in spite of being wrong or outright criminals in Tourre’s case. Mr. Fab was convicted of six counts of securites fraud in his role in the subprime mortgage mess that caused so much damage to the economy. Since this was a civil case brought by the SEC there will be no prison time but Tourre faces a fine of one million dollars and a lifetime ban from the securities industry.

So why is The Fabulous Fab on my list? Because the University of Chicago rewarded this guy with a job as an economics professor. His first class should be “how to defraud investors and land on your feet.”

What is wrong with us? Why do we keep rewarding people who aren’t worthy? The list I’ve compiled is pathetic: a financial advisor who lost his home but got a book deal anyway, a New York Times financial reporter also lost his house due to bad decisions and also got a book deal, a financial expert who called for major defaults in municipal bonds and couldn’t have been more wrong gets a book deal and starts a hedge fund. The list goes on but the honest, smart, financially successful among us continue to write blogs, self publish books, and otherwise struggle in obscurity because…because why?

Seriously why? Please add your comments below with your opinion of why it seems only screw-ups do well.


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