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September 14, 2009


Grier Graham

My question: is this speculation or innovation? Are the best of Andy's best just better gamblers lining their own pockets or do they truly provide services that improve our economy and society? Because Lehman trying to one up Goldman sure seems a lot more like speculation and a lot less like innovation to me.

Adrian Ionel

I wonder what the Wall Street cumulative "profits" are for the past ten years including the past 18 months. And what they would have been without the taxpayer bailout and the massive intervention of the Federal Reserve.

The system sound great as long as 'making money' is for real and not 'produced' by engineering paper profits derived from pushing (or concealing) risks far out into the future. Or off-loading them to the taxpayer.

Curious about your thoughts on that.


Meritocracy? More like kleptocracy or kakocracy!

Gordon Hill

You post profits now for a mass of sales that will go sour a year or two down the line (such as selling mortgages to NINJAs or trading related derivatives) and you get big money. You then leave (or even stay on!) as a hero and carry on elsewhere before any chickens come home, at a much improved salary etc. Do it again and again as long as the money go round continues. Surely this means that it isn't a meritocracy and that's where it all goes wrong. The merit gets fired for underperforming. Some means needs to be found to ensure that personal rewards match real long term gains. And borrowing short to lend long should be a sacking offence!


There is nothing meritocratic about privatizing gains and sticking the loss with taxpayers. I actually can't believe how fawning this article is, praising wall street for its smarts and hard work. To think these people are really punished for bad behavior is laughable. Sure some might be unemployed twiddling their thumbs by the pool, meanwhile I'm at work paying my taxes to fund this plundering.

Kevin Kauer

Right-on, Dr. K.

mulberry bags

I'm going home tonight to take a pick, i'm very excited about this (clearly you see how sad and crazy i am about shoes.) Will post the picture

Tiffany Rings

Brief 4C Partition: Carat (Carat): is the weight of the diamond, but also the women together love comparisons carat equals 0.2 grams per carat is divided into 100 points, such as a 50-point diamond weighs 0.5 carats .

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