Comments on: Has the SEC changed the culture of Wall Street? http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: tommy6 http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-14008 Sat, 24 Apr 2010 14:18:07 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-14008 Everyone forgets capitalism is about rewarding the greedy. It should not come as a surprise this sometimes produces crooks. Democracy is based upon such people existing and testing the limits. Through time and memorial there has always been a lag before a Democratic movement puts those Crooks away. Many a time, the crooks are long gone before the broom comes in. Its the capitalist way.

We are in the process of seeing some Crooks put away but DO NOT BE FOOLED. Crooks will continue to exist. You just won’t notice until the next crisis.

Wall Street/Finance is and always will be the home of crooks because that’s where the money is and ALWAYS WILL BE.

The people only have themselves to blame for the crooks. Every crook out there knows they just have to wait things out before the public loses interest in this.

If people were really serious they would be talking about dismantling Wall Street rather than reforming it.

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By: csodak http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13976 Fri, 23 Apr 2010 22:01:56 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13976 Wall Street has metastasized into a cancer on capitalism. Once it actually fostered growth of productive companies that contributed to the growth of industry and nurtured the middle class. It now is a cancer that does nothing but gut once productive corporations through leveraged buyouts, fraudulently advises employees on ESOP and creates self destructive derivatives that the trading arm shorts while the investment arm violates its fiduciary responsibility by advising its clients to invest in the same instruments ALL THE WHILE being backed by the good credit of the US Gov’t.
HOW MUCH TOLERANCE WILL OTHER GOVERNMENTS AND THEIR CITIZENS SHOW TOWARD THE US AS IT BECOMES MORE EVIDENT THAT US CORPORATIONS HAVE EFFECTIVELY ROBBED FOREIGN COUNTRIES AND THEIR CITIZENS OF THEIR SAVINGS THROUGH THE THE FRAUDULENT CONDUCT OF THE LIKES OF GOLDMAN SACHS.

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By: Mega http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13973 Fri, 23 Apr 2010 21:01:19 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13973 Working for Deutsche Bank doesn’t make one German. Lippman(n) is typically a Jewish name.

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By: vinlander http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13965 Fri, 23 Apr 2010 19:33:08 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13965 “The masses”??? He may as well refer to them as the hoi polloi, or the Great Unwashed. I’ve never met a slow-witted German, but Michael Lewis strikes me as a pompous ass regardless of nationality.

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By: HBC http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13940 Fri, 23 Apr 2010 16:59:00 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13940 Crikey. Try as one might to give them a spot of fresh culture, all they ever do is moan. Don’t tell me the usual establishment bicycle-seat sniffers ‘ave lost their German sense of humor again…

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By: Danny_Black http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13931 Fri, 23 Apr 2010 16:25:10 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13931 I believe the “slow witted germans” is a quote from Greg Lippman of…. Deutsche Bank.

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By: Gotthardbahn http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13927 Fri, 23 Apr 2010 15:42:01 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13927 Who is this Michael Lewis and what’s with the snooty tone? ‘Masses’, indeed. Who elected him? It is always amusing, even instructive, to see the self-righteous in action. And who would be naive enough to think that the SEC could change an entire culture of profit-seeking by issuing a simple civil fraud complaint? And one that looks increasingly unlikely to stand up in court. Felix Salmon perhaps?

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By: Ghandiolfini http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13925 Fri, 23 Apr 2010 15:13:43 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13925 And according to CNN the SEC has become a porn shop, what a way to start a weekend.

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By: Ghandiolfini http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13924 Fri, 23 Apr 2010 15:00:35 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13924 See Agnes’s article, our problems have just started.

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By: klh http://blogs.reuters.com/felix-salmon/2010/04/22/has-the-sec-changed-the-culture-of-wall-street/comment-page-1/#comment-13917 Fri, 23 Apr 2010 11:07:37 +0000 http://blogs.reuters.com/felix-salmon/?p=3534#comment-13917 ML is an opportunist like many thesedays. however, that is exactly what the big IBs do – they did and do put together CDOs and ABS and simply funky smelling corporates and peddle them to the slowest witted disks there are – and a whole bunh of German Landesbanken that tried the sexy IB business were among the slowest witted desks around, along with some selected and notoriously slow Japanese banks and USA municipalities – the fact is there is a buy side and a sell side, and when you sell total garbage, you have to look for the dumbest marks to sell them to.

unlike in stocks you can’t just sell these debt issues to retail.

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