Navigation

2012-11-20 — bloomberg.com

This is particularly troubling because Wall Street is similar to the military: There is no upside for anyone working in finance to do anything but to follow the orders given by the bosses. The idea of a "rogue trader" is really a myth. The goal at every firm is always to make more money in any way that is legally defensible -- by selling more mortgage-backed securities, by doing bigger and bigger mergers-and-acquisition deals or by making a larger and larger bet on the direction of an obscure debt index.

go to full article | permalink to this | forum thread | | RSS | Subscribe by email!



Comments: Be the first to add a comment

add a comment | go to forum thread