Parisian Family Office, CEO. Began Wall Street, 82. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative, raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, Dean trades from Ghost Ranch, on the Yellowstone River in MT, TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, will always be, an optimist. Chase your dreams!
Thursday, January 24, 2008
Massive losses are easy to find............
The egregious compensation paid to these traders who play with OPM (for those of you in Mandaree that is Other People's Money) or with the house account and take large unhedged risks are in need of therapy/jail time/thrown out of the securities business. Or are the execs in charge of overseeing these thugs to blame? Of course they are, but don't ask Stan or John or Warren if they were at fault. The lack of risk control and transparency is just so hard to fathom but then again it's not. There's too much money to be made at the top to not allow the gigangic prop profits that can be booked (or lost).
And the derivates debacle has only gotten a good head of steam.