For sure, President Obama brought some "responsibility" to Wall Street margin clerks today. Gotta believe the overseas camel jockeys who own these banks are feeling rather frazzled. The derivates debacles behind these banks aren't even being addressed. It's like, so if a "subprime" loan was bad for the bank then how about the cowboys who left the banks high and dry and just walked away?
Where are incentives to right the system? There are none. It's a big give-away. The crooks and thieves and fat cats have just walked away to leave John Q. Taxpayer holding the bag.
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now managing the Parisian Family Office. A White Earth Chippewa, raised conservative, growing up in the poorest county in the U.S. on the Pine Ridge Indian Reservation, he began a Wall Street career in 1982. Always been, will always be, an optimist. In a world on a dopamine binge, this is his take on life from Ghost Ranch in MT, Pamelot, his TN farm or their home in San Jose del Cabo, Mexico.
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