Peter Baker and David Herszenhorn: Wall Street Reform Reporting Lacking

Mitch McConnel

Joseph Palermo: The massive trading and swapping of Collateralized Debt Obligations (CDOs) and other abstractions cooked up by the fertile minds of sociopathic Wall Street “traders” not only did nothing to lubricate the real economy through financial intermediation, but they helped bring down the entire system and cost taxpayers hundreds of billions of dollars.

Why You Should Work for a Hedge Fund

jacuzzi

Just because I lost a big chunk of my total retirement savings over the last year doesn’t mean I should be upset that 25 hedge-fund managers reaped a total of $11.6 billion during the same interval, according to Institutional Investor’s Alpha Magazine — including $2.5 billion for James Simons of Renaissance Technologies and $2 billion [...]

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