Daily Archives: October 8, 2008

Faking Panic

The papers had me snookered. Probably, got you as well.
Sure, there have been lots of distressed folks working on Wall Street these days. They are not, though, the ones you see in your local papers:

We surveyed the major news sites and culled 5 “panic trader” pictures in about fifteen minutes. Another 10 minutes on “Getty Images” and “iStockphoto” gave us matches on four. Yes, dear readers, most panic trader pictures aren’t even from the correct day.

Through the years I’ve often thought these folks were simply exhibiting the stress of their jobs not panic. It turns out to be fake journalism.

On the other hand, maybe it was panic. Panic that folks would eventually figure out that they were not worth the money they were being paid. Panic that the house of cards would eventually come tumbling down…on them.