SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: peppe51 who wrote (90510)11/19/2008 1:16:48 PM
From: koan  Read Replies (2) of 116555
 
>> wasn't talking politics, but the people who work in Wall Street. The same ilk who gave us the LTCM debacle...Smart, educated people with power and no wisdom are much more dangerous than ignorant ones.<<

Koan:

"Wallstreet: I think that was greed, stupidity and the removal of important regulations. The kid who started the credit default swaps (14 years ago?) was only 25 years old. Barely old enough to understand existentialism-lol.

Then this administration removed all regulations e.g. the 12 to one ratio for bank lending was increased to 40 to one. Then CDS's were used to allow banks to loan even more by insuring what they had with CDS's; then Phil Gramm slipped in recinding the Glass Steagall act at the end of Clintons term in a large appropriations bill. And we had a justice department that didn't care what anyone on wall street did.

Obama, is an intellectual. I believe he will draw heavily from academia to help solve problems. The AG he just appointed is known for his prosecution of white collar and politcal criminals.

Wall streeters may be among the brightest, but not the best as so many are crooks. Sort of like stock brokers and real estate agents---lots of people with sociopathic personalities are drawn to those professions and they need to be watched over very carefully!!
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News