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  • When Wall Street Just Doesn't Get It [View article]
    I beg to disagree on creating jobs, efficiency, and economic prosperity. Life is more about cooperation, luck and good timing, IMHO. No entrepreneur or "captain of industry" does anything by themselves. They depend upon the goodwill, trust and hard work of people like employees, customers, bankers, investors, suppliers, providers of various services, etc. Donne wrote, "No man is an island, entire of itself; every man is a piece of the continent, a part of the main." How right he was.

    At best, they are catalysts, not rock stars.

    I would suggest to those "aristocratic rock stars" on WS, "More humility, less hubris, and much more gratefulness for what they do have."

    > On Apr 21 02:00 PM Cetin Hakimoglu wrote:

    > But it's the top earners & entrepreneurs who create jobs, efficiency,
    > and economic prosperity for everyone else. That's why they are most
    > deserving of tax cuts.
    Apr 22, 2009. 11:33 PM | Likes Like |Link to Comment
  • When Wall Street Just Doesn't Get It [View article]
    The same image of the guillotine popped into my perverse mind, too. Also Marie Antoinette.

    Two of the smartest guys in my life were my grandfathers. They both had little formal education, one having had none growing up in Russia and the other, growing up in Wyoming had 8 years of school. My Russian grandfather was a very intelligent businessman, who had his own grocery store in Cincinnati. My WY grandfather was a businessman, a real estate lawyer, an inventor and a spectacular amateur golfer, who shot a scratch 72 on his 72nd birthday. What I remember most about them is their honesty, caring, and trustworthiness.

    The economy, the financial system, government, and WS depend on trust. Remove that trust and you create a huge crisis in confidence. There is no amount of money that can fill that hole.

    I think that those WS aristocrats missed the lessons on trust and fiduciary duty. Without that, the "best and brightest" are not worth the powder to blow them up. Or a guillotine.

    I, too, prefer my bankers to be a little slow and cautious. And trustworthy.

    > On Apr 21 10:51 AM kelm wrote:

    > These guys sound like how I would have pictured French aristocracy
    > speaking before the revolution saw them all off to the guillotine.
    > They truly believe they are the economy and their Ivy league education
    > by itself mandates that they be paid more when they are in fact part
    > of the problem. What you don;t mention is the usual whine about "driving
    > away the best and the brightest". The B&Bs need to go into the
    > lab and create things that translate into American products, competitiveness,
    > and growth, not financial shenanigans disguised as economic productivity.
    > I think I'd like my bankers to be a little slow and cautious.
    Apr 22, 2009. 11:13 PM | Likes Like |Link to Comment
  • Buyer Beware: 30 Biggest Bankruptcy Risks [View article]
    That is not how my dad put it. He said, "If you can't say something nice about somebody, say it in Yiddish!"

    Nobody, John, is forcing you to read this. I would suggest that you speak for yourself. Please don't hide behind statements like "for the readers …" and "I'm pretty sure that everyone has had enough of the bad news!!" You don't need to speak for me. I would guess that most of the readers here can stand up for themselves. Not sure.

    Thanks for the info, Thomas. As far as I care, please keep on writing.

    >On Apr 19 11:14 AM John D wrote:

    > More info we don't really need - like the movie said "If you have
    > nothing nice to say ...don't say anything at all" - how about going
    > back to the drawing board and find something POSITIVE + for the readers,
    > I'm pretty sure that everyone has had enough of the bad news !!
    Apr 21, 2009. 09:51 AM | 13 Likes Like |Link to Comment
  • When Wall Street Just Doesn't Get It [View article]
    "Methinks the bubble is not in the economy, it is in the heads of those hubristic, myopic inhabitants on WS."

    should read,

    "Methinks the bubble is not only in the economy, it is also in the heads of those hubristic, myopic inhabitants of WS."
    Apr 21, 2009. 09:35 AM | 1 Like Like |Link to Comment
  • When Wall Street Just Doesn't Get It [View article]
    Amen. Amen brother. I have had many conversations in the past few years about "Wall Street" doesn't get "Main Street".

    Methinks the bubble is not in the economy, it is in the heads of those hubristic, myopic inhabitants on WS.

    Oy vey.

    Ryan's article makes a lot of good points. On one point, I take exception. "A round of all-out class warfare would be good for no one". Too categorical a statement for my blood. Maybe some old-fashioned conflict would serve to level the playing field. Maybe it would open the eyes of some of those WS elitists. We'll just have to see.

    On Apr 21 08:46 AM john s. gordon wrote:

    > an illustration of the vast gulf between wall st and the real world.
    Apr 21, 2009. 09:32 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    No surprise to me. GS and AIG are like a snake which sheds its skin, not its habits. Then again, I am not sure I am being fair to snakes with that simile.

    I wonder what Cassano, former Criminal-In-Chief of AIG Financial Products, thinks about the monstrous mess of his former handiwork.

    On Apr 15 06:36 AM WAKEUP wrote:

    > Goldman Sachs' two-part business plan: (1) SMOKE (2) MIRRORS.
    Apr 16, 2009. 06:58 AM | Likes Like |Link to Comment
  • Scary Numbers [View article]
    There are way too many variables at play to allow us to make worthwhile predictions. On top of that is a global crisis of confidence. The banks, Treasury and Fed are still displaying their annoying obfuscatory tendencies. Transparency is in short supply. And people are quoting history, often ignoring pieces of history which do not agree with their viewpoints.

    IMHO, we do not know when the economy will turn around and what will cause it to do so.

    All we can do is our best. More transparency will help. Unemployed people getting jobs will help improve their collective mindsets. And taking it one day at a time.
    Feb 21, 2009. 09:08 AM | 2 Likes Like |Link to Comment