Tuesday, May 05, 2009

Wall Street To Revert To Pre-Crisis Model?

This is a prime example of clueless journalism. It's also a prime reason why the press is going bankrupt left and right.

Listed in this article are some of the most well-respected names on Wall Street. The remarks in this article are completely laughable. Wall Street is still deluded by a false reality that shows they clearly don't understand economics or business. We knew that. Wall Street destroyed itself and the economy. Wall Street has never had to actually compete in the economy because they get monopoly access to capital. Now the economy is going to determine their future. Not monopoly access to capital. Because there isn't any. And, I can assure you I would bet every nickel that has ever passed through my hands that these clowns are completely clueless as to what the future of Wall Street or the global economy will look like. Welcome to the real world.
posted by TimingLogic at 9:40 AM