i did not read Reed’s article, it’s always the same BS, merges aquistions etc. etc., the guys at the top might not like things or agree with them, yet, when gazongo bonuses are there they all agree, cross-sellling the biggest bunch of BS that looks perfect on paper and is a disaster in the real world

Weill has buildings named for him at some of the nations most elite universities. Reeds pisses and moans from the back bench, politely ignored.

Winners smile. Losers say deal.

…and the King of the Jews (INRI) got crucified by the Romans! Time wounds all heels.
Reed is a technocrat and his science didn’t fail him where a false sense of worth has blinded his soft science co-pirates. He can enjoy his stairway to heaven and beat the top-deckers on the Titanic while he spends the rest of his life earning immense satisfaction by figuring out how he can best give back the full measure of his part of the grand theft.

Le secret des grandes fortunes sans cause apparente est un crime oubli , parce qu’ il a ete proprement fait.”
—-from Le Père Goriot (1835), Part II —Honoré de Balzac
The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed.

Oops! this crime is outed!
Oh, Lord of the Gold Sacks, great and powerful Oz, you surely noticed your bond buddymachermaven Jon Corzine got a taste of what’s in the wind.
God’s work indeed, but it will feel like the Harpies tearing at what’s left of that soul once issued.

http://www.econtalk.org/archives/2009/10/calomiris_on_th.html

So did America as a society get greedier? Why have the captains of industry (no saints either) been replaced in the swank neighborhoods by high end money shufflers?

To me, just a normal response in demand – to an increase in supply at a given price.

As long as Fed continues its criminally insane strategy of force-feeding cheap credit down the throats of America (to stimulate it), there will be no shortage of large firms to step up and distribute the debt to America, scraping some crumbs (big ones) for themselves along the way.

Citi, and all the rest are a natural response the the orgy of dollars vomited upon us by Greenspan and Bernanke. All the regulatory stuff is incidental. As the money is printed – there will firms ready and willing to do the dirty.

Thats how i sees it.

And thanks for the apology. It really is sweet.

Winners smile. Losers say deal.

more on topic, we don’t have enough legislators, with courage, to overturn glass steagall act repeal. that repeal killed the usa financial market. two contaminated groups, banks and brokers, were allowed to merge and procreate.

1. The too big to fail banks will be broken up.

2. Goldman is smart, but they got a little too cute. I think all the anti-Goldman rhetoric is snowballing.

Bull. Greater souls would have listened to the many well-reasoned arguments against repealing Glass-Steagall and not advocated it out of sociopathic arrogance and greed for empire. If he’s really remorseful, let him put up his massive personal loot to compensate some of the losses. His ‘apology’ is a drop in the ocean against the damage this parasitic opportunist and his ilk have done to the world.

When people make ‘mistakes’ that put millions of dollars in their pocket, expect such ‘mistakes’ to be made again and again.

I’ve long believed that pathological deregulation was a cover for stealing. Turns out to be true.