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The End of Wall Street As They Knew It


Business  (tags: Wall Street, big changes, Occupy haters, hedge funds, less leverage, rude awakening, Volker Rule, reducing risk, Jamie Diamond, Dodd-Frank, bubbles, Greenspan, mortgage mess, Goldman, hedge funds, business model implodes, leveraging of world economy )

Judy
- 2417 days ago - nymag.com
On Wall Street, the misery index is as high as it's been since brokers were on window ledges back in 1929. But sentiments like that, accompanied by a full orchestra of the world's tiniest violins, are only part of the conversation in Wall St. offices...



   

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Comments

Judy C (91)
Wednesday February 8, 2012, 11:04 pm
This article is pretty long, but it's very informative, and well worth reading, IMHO.
 

Judy C (91)
Thursday February 9, 2012, 12:19 am
I just posted a scathing critique of this article by Matt Taibbi.


Why Wall Street Should Stop Whining | Matt Taibbi
 

Sheryl G (360)
Thursday February 9, 2012, 7:43 am
“There’s no other industry where you could get paid so much for doing so little,” a former Lehman trader said.
“They made a lot of money trading with each other with doubtful public benefit.”

The Dodd-Frank financial-­reform act didn't go far enough imho, but I'm glad to see some action to start to curb this runaway train. For those getting smaller bonus monies.......gee let me get my violin out. They are still making more in a year than many who work hard each day for far less, not to mention the ones whose lives were destroyed with their gambling casino they had operating for so long.


 

Edwin M (346)
Thursday February 9, 2012, 12:30 pm
AWWWW the poor babies, what a sad story how will they ever survive on such paltry sums like $75,000 after taxes.
 

Fiona O (561)
Thursday February 9, 2012, 9:38 pm
Creeps. The Wall Street gang had a champagne breakfast while Occupy was being attacked by the park police in DC.
 

Judy C (91)
Thursday February 9, 2012, 11:49 pm
Yeah, these guys are really hurting, I'm sure. They couldn't care less about the consequences of ther actions. They should be forced to live on minimum wage for a couple of years, with no medical insurance, after losing their houses. Maybe they could live in their Ferrari.
 

Carmen S (611)
Friday February 10, 2012, 3:50 pm
noted, thanks Judy
 

Bonnie B (103)
Friday February 10, 2012, 9:22 pm
Thanks, Judy. We can only WISH it was the end of Wall Street as they or WE knew it! I agree, Dandelion the Dodd Frank is way too weak...like peeing on a fire while the fire trucks are sitting there watching. Glass-Steagall! and I was watching Eric Cantor announce the weakening of the Trade Bill (anti-insider trading by congress members) that just passed the Senate. Leave it to the House to screw anything that will benefit us normal human beings.
 

Phillip I (67)
Saturday February 11, 2012, 1:41 pm
*Sigh* - I miss the days before air-conditioning.... ...when it was possible to open windows on skyscrapers & it was easy for them to take the plunge.....
 

Eternal G (736)
Saturday February 11, 2012, 5:02 pm
Hehehehehehe...
 

Esther Z (94)
Saturday February 11, 2012, 7:47 pm
Wall Street is the child of Capitalism. I don't see it going away anytime soon!
 

KS Goh (0)
Sunday February 12, 2012, 5:30 am
Thanks for the article.
 
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