From Pine View Farm

The Entitlement Society 0

At SFGate dot com, the San Francisco Chronicle’s website, Leland Faust, a man who has gotten rich investing, considers what’s wrong with the Wall Street banksters. Using Jon Corzine’s ill-fated stewardship of MF Global as an example, he cites ten failings.

      1. The cult of a Wall Street superstar.
      2. Gambling disguised as investing.
      3. The bail-me-out syndrome.
      4. Enormous conflicts of interest.
      5. Leverage on a grand scale.
      6. Failure of regulators and the reform law.
      7. Misappropriation of client funds.
      8. Worthless rating agencies.
      9. Golden parachutes soaring high.
      10. Breakdown of morality: Even if something is legal, that doesn’t mean it is right.

Follow the link to see the examples supporting each point.


Comments are closed.