Most people's minds are far too small and rigid to understand that Wall Street banks employ some of the most honest, most professional individuals anywhere. They have to have trustworthy employees. I've worked with them.
Salesmen in every business are known to lie, not just investments and banking.
No, I think you should turn your criticism to congress and the people make and enforce the rules.
Absolutely agree.
I am sure they are honest and believe they do the right thing, but they are human. They make the rules, own the politicians, are infested in allthe levels and all branches of government, and have absolute power. That is not even close to capitalism. Just recall how TARP played out...
LOLOLOLOL
Not saying their are not some honest ones. But the major wall street banks And companies like Bear Stearn’s are nothing but outright lawbreaking thieves. And it was not enough that there schemes in housing and derivatives destroyed the world. Then they came along and stole almost a trillion from US taxpayers. Stole the savings value and interest from all Americans through there planted people in the FED, and Treasury. Even created mechanisms by which countries like Greece could illegally hide their debt and keep borrowing till it was too late. And that was not enough...They made sure that they planted people in the enforcement agencies and congressional committees so that they would not go to jail. And they lie on their balance sheets with the blessing of the Federal Government. More laws were broken than you can shake a stick at, and basically no one other than Madoff was prosecuted. They misrepresented and sold Crap to Fanny and Freddie. They made up phony MBS’s. Paid the ratings agencies to give them a fake rating. Produced fake Mortgage and foreclosure documents in assembly line style(still are). Sold some of the mortgages to more than one person. Broke state law, and avoided taxes via MERS. Forever screwed up home titles. Back dated documents. Robo signed. Bribed congress through “Donations”, and favors That’s a lot of people that belong in Prison. And that is just the tip of the iceberg.
Go do some research and then get back to me. Maybe you will figure it out when the entire economic (And American) system goes down because of what they are doing. And Yes Our leaders are just as guilty. Oh and look up Glass-Steagall and the act that repealed it. Guess who pushed to repeal it(A certain Ex treasury secretary who was the CEO of a Certain Wall Street bank at the time). Guess which party the bill is named after. If that bill had not been repealed then most all of this would not have happened. It certainly would not have been pinned on the American people to bail them out. Guess when all the MBS’s and Fraud Began?
WAKE UP!