http://www.minyanville.com/businessmarkets/articles/insider-trading-todd-harrison-wall-street/11/23/2010/id/31300
I hear what Todd is saying, BUT and it's a big but to.
The world's taxpayers is continuously having to sign on the dotted line for the repayment responsibility for all the woes of Wall Street.
Do you know how you rid of termites?
You tent the house and fumigate it.
So we either shut the markets down and clean house properly in every nook and cranny or we deal with the riot.
I realise your profession of trade would be on hold, for as long as it takes to flush the fraud, but hey as far as an outsider can see regarding the picture that's come to light, there are no corners and no boundaries of borders, for the entire financial system.
As your so fond of saying, as well as a spiritual lesson of my own, learned long ago,
One must look at both sides of the coin.
Perspective is an interesting thing, as well the many degrees there are of it.
Have you yourself taken sustenance from the taxpayer's table, as an uninvited guest?
The easiest thing in the world to do is say "Wall Street
is evil" and throw every hedge fund under the bus.
I’ve read a lot of news reports overnight and virtually every one of them adopted the same populist cry. I even saw Inspector Kemp interviewed on this topic, where he said, and I quote, “A riot is an ungly thing... undt, I tink, that it is chust about time ve had vun!”
Earth to Matilda -- not all hedge funds are evil. The majority of the industry is comprised of good people making honest livings, or at least they were considered honest when free market capitalism had a positive connotation.
Don’t get me wrong; if someone crossed a legal line, throw the book at them and demand restitution but let's not try the industry in the court of public opinion and assume they’re all criminals. That's misplaced anger and endemic of a broader shift in social mood
