georgephillip
Diamond Member
From the Washington Post:
"The warm glow that Wall Street once seemed to have hid how much bad investment it made in the past 40 years.
"From the Federal Reserve bailout of bankers for bad South American loans made in the 1970sto the 1980s savings and loan crisis, from the 1990s East Asian financial crash to the bursting of the dot-com bubble in 2000 and the 2008 collapse of the housing and financial markets, Wall Street has been largely responsible for nearly every financial calamity and yet has still profited off the next boom.
"So do we need Wall Street?
"Could there be a smarter way to pick and fund a handful of winning companies?"
http://www.washingtonpost.com/opinions/does-america-need-wall-street/2011/11/16/gIQAcQmHYN_story.html?utm_source=Daily+Digest&utm_campaign=91ee86b1e5-DD_11_21_1111_21_2011&utm_medium=email
"The warm glow that Wall Street once seemed to have hid how much bad investment it made in the past 40 years.
"From the Federal Reserve bailout of bankers for bad South American loans made in the 1970sto the 1980s savings and loan crisis, from the 1990s East Asian financial crash to the bursting of the dot-com bubble in 2000 and the 2008 collapse of the housing and financial markets, Wall Street has been largely responsible for nearly every financial calamity and yet has still profited off the next boom.
"So do we need Wall Street?
"Could there be a smarter way to pick and fund a handful of winning companies?"
http://www.washingtonpost.com/opinions/does-america-need-wall-street/2011/11/16/gIQAcQmHYN_story.html?utm_source=Daily+Digest&utm_campaign=91ee86b1e5-DD_11_21_1111_21_2011&utm_medium=email