E Thomas St.

How Wall Street Keeps Dooming Itself

Whether you support a system implicitly through participating and whether you idealize the status quo as the person I responded to did, makes a world of difference.

On Jan 30 03:51 PM huangjin wrote:

> "Do you really support a system that is dysfunctional at its very
> core because so many people depend on it? This mentality could be
> used to justify any number of wasteful and inefficient allocations
> of capital."
>
> That explains almost every single government agency and program in
> America, right down to public schools, police and military. So I
> guess the answer is yes, for at least 50(+1)% of the people.

How Wall Street Keeps Dooming Itself

Do you really support a system that is dysfunctional at its very core because so many people depend on it? This mentality could be used to justify any number of wasteful and inefficient allocations of capital.

On Jan 30 01:18 PM TRS wrote:

> A rather inconvenient truth is Albany and NYC also benefit from the
> mothers milk of Wallstreet bonuses. At a mere $18 bln the city and
> state are witnessing a $1.3 bln short fall in tax collections. Followed
> by an announced potential 20,000 job cuts in the service personel
> pool of NYC.
>
> Blasting the bonuses has far reaching consequences. Lambasting is
> easy by those not losing their respective jobs due to the fallout...
> and I'm not talking about wallstreet jobs! I'm talking about the
> better than 8 million people that live in and around Manhattan that
> depend on that injection of cash into the system for their livelyhood.
>
>
> The repercussions of government dictating private business practices
> is far more dangerous than the bonuses. Justified or not.
>
> For the sake of conversation... What do you suppose Wallstreet's
> adjusted hourly rate is? Just curious. Most I know don't work a
> 40 hour week.