bedstuy
YaBB God
Posts: 4,526
Political Matrix E: -1.16, S: -4.35
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« on: November 15, 2015, 12:19:07 PM » |
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« edited: November 15, 2015, 02:17:19 PM by bedstuy »
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There's an analogy I like to make about Wall Street. If someone works at an ice cream store, they eat lots of ice cream and they get fat. If someone works on Wall Street, they get lots of money and they get rich. Such is the way of the world.
What's the problem with Wall Street? It's a few things.
Unrestrained greed and cynicism. People don't to go Wall Street to do anything but make money. Way too many people in finance are just about pure greed. People who work in technology love computers, people who design tractors love tractors, journalist love the news, people who work on Broadway love being gay, you know? But, who loves doing financial homework? Nobody really.
And, you see that in the big scandals. Wall Street people will screw over anyone and ignore massive risks just to make money. Look at something like Enron or the CDS business at AIG. Finance guys will sell rat poison brownies to schoolchildren, if there's a big commission. These companies will screw over their customers, their companies, the public, anyone, they don't seem to care. Plus, the regulators are dumb lawyers who work for the SEC. They don't even know what's going on in Wall Street because they're dumb lawyers who can't do math.
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