-- Brian
On Oct 10, 2008, at 3:51 PM, Mark wrote: > Bruce Johnson wrote: >> There's an article about derivatives and their place in the current >> Big Shitpile in todays NYTimes, <http://tinyurl.com/3v3ujf> and >> there's a passage in there that kinda sums up in very real sense >> how we got where we are, while discussing Alan Greenspan's >> insistence on not regulating the derivatives market: >> >> "In [Greenspan's] Georgetown speech [last week], he entertained no >> talk of regulation, describing the financial turmoil as the failure >> of Wall Street to behave honorably. βIn a market system based on >> trust, reputation has a significant economic value,β Mr. Greenspan >> told the audience. βI am therefore distressed at how far we have >> let concerns for reputation slip in recent years.β" >> >> Reputation may very well have some market value, but clearly greed >> and profit had higher ones. >> >> He's CLEARLY no student of history, or else he would have realized >> that the reason those regulations were in place was that Wall >> Street could NOT be counted on to behave 'honorably', and in fact >> had led us into this very kind of mess in the past. >> > > > except > how will we move forward if we are constantly held back ? > Think Clockwork Orange..... At a more measured pace rather than rushing headlong over the cliff in the unrestrained chase for wealth and undeserved riches? --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to StrataList-OT@googlegroups.com To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/StrataList-OT?hl=en -~----------~----~----~----~------~----~------~--~---
