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HomeHSBC’s Gulliver and “You Can’t Make This Stuff Up”
Posted by Larry Doyle on August 1st, 2012 6:11 AM |
Certain statements made over the years resonate with such gusto that they just do not and cannot fade into oblivion. What statements would be included under this heading? Can we ever forget . . . ?
“I’m not a crook.” . . . How about . . . ? “I did not have sexual relations with that woman.”
Surely “Read my lips. No new taxes!!” has a special place in history.
In this same vein, those lines and the longstanding ridicule associated with them received a little company overnight. Who knocked on the door and uttered a line that is sure to go down in financial history? (more…)
Have Banks Become Criminal Enterprises?
Posted by Larry Doyle on July 22nd, 2012 6:41 AM |
I continue to maintain that the overwhelming percentage of people working on Wall Street are good and decent people trying to make an honest living in what has become an increasingly challenged industry.
I also maintain, and always will, that the spirit of capitalism that drives Wall Street is a necessary and vital engine if our economy and country are to recover.
I rail so hard on the failures and captures within our financial system for the very simple reason that I believe a healthy country needs healthy markets. Neither our country nor our markets are anywhere close to being healthy right now. In fact, with the news surrounding the Libor scandal taken in conjunction with word of massive money laundering within HSBC, the question begs, “Have banks become criminal enterprises?”
