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2016 Postmortem
In reply to the discussion: PSA: How many people here who love to hate "Wall Street" actually know what it means? [View all]Kentonio
(4,377 posts)17. The irony of threads like this..
Is that the more you know about financial services, the clearer it becomes quite how much of a joke it really is. It's little more than a gambling ring based on the premise that the technical complexity will ensure very few people actually understand how ridiculous it really is.
Seriously if you ever want a cheap laugh, get someone to sum up one of those really complex sounding financial schemes in three sentences or less. You can basically guarantee it will come down to 'x borrows money from y in the hope that z will happen. If z doesn't happen, y makes money. If z does happen, x makes money'. If you want to train for financial services, save yourself the college money, and take a year out in Vegas, it'll probably do you more good.
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PSA: How many people here who love to hate "Wall Street" actually know what it means? [View all]
hill2016
Nov 2015
OP
Yeah,it's a street in Manhattan that symbolizes wealth and greed. It's just a street.
virgogal
Nov 2015
#1
The best answer is here. It's not a simple "fraud" model. It's how the capitalistic world works
Sancho
Nov 2015
#19
Sanders voted for Commodities Futures Modernization Act of 2000, it aided in the finanical crisis.
Thinkingabout
Nov 2015
#60
Yes, please lecture us about how we don't know what we're talking about - that will win us over.
reformist2
Nov 2015
#15
Banks use our deposits to gamble with & we bail them out if they lose at the table.
RiverLover
Nov 2015
#16
Michael Lewis has written many good books on it. I suggest the OP read some of them.
Electric Monk
Nov 2015
#52
Are you supporting Clinton? Are you sure? have you checked? Check again. Are you still sure?
Scootaloo
Nov 2015
#55