Wall Street, Innocent, Dumb or Dirty

[twyacht]

there are no innocents on wall street.  Lots of dirty, dumb and  people with blinders on.

They're job is beating the system to their advantage. How different is that to your business plan?

[TAB]

They're job is beating the system to their advantage. How different is that to your business plan?

I won't lie to make money.

[twyacht]

I won't lie to make money.

Neither did Merril Lynch, or even Lehman Bros. they didn't lie at all, they took bundles of other folks money and sold them for a profit.

and than it was like a Faberge commercial,...two friends, and they told two friends,......etc,....

It was all within the SEC guidelines.

Car salesman, insurance, power companies, lawyers, and politicians, LIE to make money. Good for you that you don't.

[JC5123]

there are no innocents on wall street.  Lots of dirty, dumb and  people with blinders on.

Sorry I have to disagree with you there.

 

I voted innocent because while they are crooks they could not have done it with out Govt. meddling . Meddling which perverts the laws of supply and demand.

If you look at the housing bubble it was caused by new regulations written by Harry Reid and Bawny Fwank. That allowed people who had no business buying a house to take out 200,000 dollar loans to do just that. The banks had to give it to them, with no credit check, no verified income, just a signature. These banks knew exactly who they were lending to, and that it was suicide to do it. Congress however in all it's benevolence forced the rules, and said go ahead, we'll absorb all your bad lending with Freddie and Fannie. When they realized that you

Investors simply saw an opportunity with the markets moving and jumped on it. You can't really blame them for doing what they are paid to do. Which is make money for their clients. They are blamed for crashing the market, but when all you do is study the markets you know when to get out. They saw it coming and bailed. I would have too! So would you. No one wants to lose money like that, but have you ever listened to investment firm commercials? Half of a 30 second spot is telling to that there is SERIOUS risk involved in investing. With the potential to lose ALOT of money.

[JC5123]

I would like the opportunity to vote "no contest."  They did some stuff that is in the gray areas created by what tombogan referred to as Govt. Meddling.  Not legal, but not really illegal all the time either.  Just not always right, but what they were encouraged to do by those making the rules and playing in the system.

We need a law that takes the automated computer trading out of the picture.  No more electronic triggers that automatically start selling or buying at certain points.  And, no more day traders!  Everybody out here that I see having market troubles are the ones duped by day traders.  $X per trade whether they make money or lose (I know this is as much "buyer beware" as anything, but the laws allow it and we get sucked in by greed).  Eats up profits and compounds losses, and gives the markets a false view of what is happening.

Rant off on money grubbing weasels posing as investors 

Before you start going off too harshly on day traders, I invite you to spend a day with me. I am one of those money grubbing day traders. But what you fail to realize is that the stocks being traded by day traders are probably ones you have never even heard of. Most of the buy points are under $1 and usually never trade for more than $5. Day trading is done with very volatile penny stocks. These are not that stocks that are picked up in your 401K. Yes there is potential for huge gains. 200-300% My personal best is 760% in three days. But they are high risk, and I have lost my butt a few times. And don't get me started about what Uncle Sam does to anyone making money like that. My checkbook is still reeling from 15 April.

Day traders are not the problem. Investors in general are not the problem. The real problem is the true value of our currency. Blame for that lies squarely on the shoulders of government, not wall street.

[Sponsor]

[twyacht]

Your falling right into BHO's trap. They (investors) are not the root of the problem. What?.....Too many capitalists working within the confines of GOV'T regulations, are making too much money??? Oh crap we better get the gov't in there to stop that madness.

How many former Goldman Employees work in the BHO admin, this is a ploy, a scam, and not a coincidence that the proposed Financial Reform Act (which eats away at a little more capitalism), was announced a day after the Goldman indictment.

Yes there are/were abuses, look into your local DOT, or County Commissioners, or Labor Unions, etc,.......bad apples everywhere.

The existing laws/regs. are enough to prosecute adequately, I don't want the gov't to be the solution for every F%*&% thing.