Topic > An analysis of the relationship between companies...

In Liquidated, Karen Hos aims to study the relationship between American companies and the world's largest financial center. . . Wall Street. He puts all three years of research into his ethnography and so from the very first page of the first chapter we can already understand Hos' determination to understand what Wall Street is. The first main theme explained concerns the relationships on Wall Street which are based on a culture of domination of staff members, their irresponsibility towards American multinationals and the constant changes that occur during this process. Another important theme we see in his ethnography is that Wall Street, initially used for the well-being of communities, is now profit-oriented. Recruitment is the very first part of becoming an investment banker. The typical profile of these new recruits is that of very privileged elite graduates, mainly Euro-Americans. While there are some African Americans, Asian Americans, and women on Wall Street; Ho sees that the higher one goes, the less diversified the situation tends to become (Ho, 78). The companies come from 5-10 of the most elite universities such as Harvard, Stanford, Yale and so on and it is these new recruits who are seen as the best, the brightest and the most “smart”. Part of this has to do with the fact that a person's pedigree is considered to legitimize how that investor will behave in the market. New recruits fresh out of college are expected to have the future of corporate America in their hands, even if they don't have much real-world experience straight out of college. When it comes to social status in Wall Street's elite community, it's these great pedigrees that are the ones we smile about. “They are the Wall Street elite. Their offices are full... half of paper... with nothing and consist of much boasting and pride. This is a metaphor for corporate America. With a lot of pride and dignity Wall Street can function smoothly, but there are many problems. They don't care about America's future any more than this tribe cares about its future sailors. That's why they build such a sturdy canoe to accommodate them. Investment bankers today are not interested in building a stronger economy, they are interested in short-term responses that increase profits the most (Ho, 154). Only worry about their next big bonus versus small businesses or mortgages. The ritual that Malinowski describes with the participation of tribal peoples in the celebration of this new canoe can also be seen as the ritual of celebrating a newly recruited member becoming a bank investor. Both the new canoe and the recruit are seen as perfect and hold the future of the tribe or corporate America.