Thursday, October 2, 2008

Wall Street and the Financial Collapse

You've got to love Wall Street types. When the money is coming in, it's all about how they are so smart that government needs to get out of the way because they can protect themselves against fraud.

Then, when things are bad, it is the government's fault for getting out of the way while they were all trying to cheat each other.

By the way, I highly recommend the book "Liar's Poker" for a look at how Wall Street really operates. You should be able to pick it up second-hand for a song.

These guys aren't dumb. They're just convinced that they're so smart that they'll be able to find a chair before the music stops. The after-the-fact whining about how somebody should have saved them from themselves just rings false.

Congress (both parties) does not provide adequate oversight because they are bought and paid for by the same people who are trying to keep the cake-walk music going for just one more big score.