April 05, 2009

MUST READ (all 9 pages)

The End of Wall Street's Boom - National Business News - Portfolio.com
To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me. I was 24 years old, with no experience of, or particular interest in, guessing which stocks and bonds would rise and which would fall. The essential function of Wall Street is to allocate capital—to decide who should get it and who should not. Believe me when I tell you that I hadn’t the first clue.

3 comments:

Bukko_in_Australia said...

ALL 9 PAGES?!? That's like farking homework, perfesser...

Bukko_in_Australia said...

Whew! I'm off the hook -- already read it. That was one of the many "Holy shit -- this is how the Scamsters of the Universe did it" articles I referred to in an earlier comment I left about a Greenwald bit you posted. Agreed -- this was a shocker, along with Paul Craig Roberts and many others who have revealed the ugly truth. To re-work the "X-Files" catchphrase, "The truth is out there, and nobody's paying attention."

Bukko_in_Australia said...

Hey G. (the next thing you gotta do is make your screen name an unpronouceable symbol like the-artist-once-again-known-as-Prince) do you ever read Clusterfuck nation? It's written by a doomster named James Howard Kunstler who's all about peak oil, how America (and by extension, Oz) can only survive if it abandons a society based on autos, suburban sprawl and borrowed money... Rather U.S. centric, but Kunstler prescribes a world that sounds a lot like Melbourne -- mass public transit, localised shopping centres, etc. What's not (for me) to like, because he justifies a choice I've already made!

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