Anyone who can balance their checkbook should be able to figure out what happened in the meltdown, yet I hear people who for years were saying “the price of houses is absurd” acting like they have no idea what occurred.
As for taking risks – whose money is at risk? That’s the key point. The traders on Wall Street aren’t risking their own money, they are gambling with other people’s money. What do they care if they lose a few bets? For them it probably evens out over the year. It’s the clients that pay the penalties – working people hoping to retire on the proceeds of their 401K. People forget that traders are paid for trading, not for making money. The firms make their money no matter what happens.
]]>WIKI: Wall Street: Money Never Sleeps
I was very surprised to see that Michael Moore had absolutely nothing to do with the movie! 😆
The movie also seems to be a hit with some (non cool-aid drinking) Business/financial blogs like this from Business Insider – Clusterstok:
The 10 Best Quotes From Wall Street 2: Money Never Sleeps
here’s a few other quotes:
Gordon Gekko: Someone reminded me I once said “Greed is good”. Now it seems it’s legal. Because everyone is drinking the same Kool Aid.
Gordon Gekko: The mother of all evil is speculation.
Gordon Gekko: Bulls make money. Bears make money. Pigs? They get slaughtered.
Gordon Gekko: Money is a bitch that never sleeps!
Gordon Gekko: Idealism kills every deal.
Jacob Moore: If it weren’t for people who took risks, where would we be in this world?
Some truth in movies… what a concept! 😉
It makes me wonder though… with so many indications of how bad things are, why are so many people in denial about it? *shrug*
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