Today's New York Times reports that “activities at the heart of what Wall Street does — selling and trading stocks and bonds, and advising on mergers — are running at levels well below where they were at this point last year,” according to a bank analyst who was among the first to warn of the subprime mortgage disaster and its impact on big banks.
Note the phrasing, “selling and trading stocks …”. Unabashedly the practices of totally ripping off customers (trading) and executing their orders (selling) are presented as one and the same thing. Our readers understand the criminality involved. The mob doesn’t just take your business when you phone in an order.
The bloodsucking thieves trade all over your sorry a$$ too.
Anyway, this decline in activity should cheer Post regulars up. There are only two kinds of money on Wall Street, as you may have heard somewhere, yours and theirs, and anytime racketeering slows down, even just a little, you get to hang on to that much more of yours. If business there were to shutter completely, you’d end up holding on to it all.
Yeah, I know. Dream on, MacDougal. But things are looking a little better for the good guys in today’s paper. The piece goes on to say that Summer, a time when the market didn’t do so bad by us, was just horrible for wise guys.
Lets hope Fall gets even worse.
