Whale-Sized Gambles, Lies, and Empty Apologies

Wall Street is the apex of legal gambling. It always has been. It’s not called gambling, of course, but we should understand that that’s precisely what it is. Perhaps the question for those of us living in a free market economy ruled by this astronomically lucrative gambling is, “Should we trust the gamblers to do anything except … More Whale-Sized Gambles, Lies, and Empty Apologies

“Bankers Are Balking at a Proposed Rule on Capital” Gretchen Morgenson – The New York Times

See on Scoop.it – DidYouCheckFirst “Over the next two months, the regulators proposing this rule will no doubt encounter a lobbying buzz saw. Mr. Hoenig (vice chairman of the F.D.I.C.) said he and his colleagues were bracing for that. Bankers, after all, prefer things just the way they are. They can load up on leverage to … More “Bankers Are Balking at a Proposed Rule on Capital” Gretchen Morgenson – The New York Times