Submitted by Guest3478 (not verified) on Sun, 10/23/2011 - 12:32pm.
I think you just proved my point. By the way, I have a Ph.D. with a minor in Economics, and I have been investing on Wall Street since 1984. I put myself through school. I have owned businesses. I have a good job and have succeeded on my own. I have lent assistance to more people than I can count, so they could do the same. I don't resent success, I resent lack of accountability. The financial crisis of 2008 was brought about in part because the "big 5" Wall Street investment banks switched from being partnerships to corporations (after they were large companies). Incorporating allowed them to leverage money at a 40:1 ratio, with limited liability in the event their strategy failed, which of course it did. We are all now paying the price for their failure.
Funny
I think you just proved my point. By the way, I have a Ph.D. with a minor in Economics, and I have been investing on Wall Street since 1984. I put myself through school. I have owned businesses. I have a good job and have succeeded on my own. I have lent assistance to more people than I can count, so they could do the same. I don't resent success, I resent lack of accountability. The financial crisis of 2008 was brought about in part because the "big 5" Wall Street investment banks switched from being partnerships to corporations (after they were large companies). Incorporating allowed them to leverage money at a 40:1 ratio, with limited liability in the event their strategy failed, which of course it did. We are all now paying the price for their failure.