Wall Street: 5 Lessons Not Learned

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  1

  4adams

  07/28/09 | Report as spam

  RE: Wall Street: Lessons Not Learned

  Hi Jill,
  
  I had to choke on point number 5: "Wall Street has no
  hubris."
  
  The fact is that Wall Street has too much hubris!
  
  I hope that I'm not too hubristic to share that my studies in
  ancient Greek tell me that "hubris" means "exaggerated
  pride or self-confidence."
  
  Your point number 5 should have read "Wall Street has no
  humility."
  
  
  

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  2

  sbollinger6

  07/29/09 | Report as spam

  RE: Wall Street: Lessons Not Learned

  Hubris describes actions of those who challenged the gods in Greek tragedy, resulting in the protagonist's downfall.

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  3

  TomEDickson

  07/29/09 | Report as spam

  RE: Wall Street: Lessons Not Learned

  Item 6 might be that while stocks seem to be recovering, there are very few new jobs. There won't be a sustainable recovery without new jobs and that seems a long way off right now.
  
  TomE

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  4

  conlad

  07/29/09 | Report as spam

  RE: Wall Street: Lessons Not Learned

  Right on the spot! Though it all is a sum of a total lack of values and understanding of what creates value, isn't it? People in banks and traders and the such should never win more than the engineers and managers that create products and build sustainable corporations. They are middlemen, and should be paid as such. And they even have the dire to risk it all at the expense of, now we have seen it, the whole world!
  
  Oh well, I am placing my hope not on banks, and all their growth reports and earnings and the such mean nothing at all (just as TomEDickson pointed out concerning job creation), but on the real firms that are out there creating things of value and actual services.
  
  How to fix the banks? Don't know, but they surely should not be allowed to make so much profit (much of which is imaginary, btw) and instead earn it the good, honest way.

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  5

  Jill Schlesinger

  08/11/09 | Report as spam

  RE: Wall Street: Lessons Not Learned

  Thank you 4adams--you are correct and I goofed--just made the edits, all the way from the beach, where you may not be surprised to learn that the Wall Street big wigs are back to their old tricks...:)

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  6

  Neptunis

  08/15/09 | Report as spam

  Neptunis

  I don't think Wall Street lack of humility, they have seen many investors by the years they have worked on all markets. They have surely the experience in their pockets to face any crisis the world can have. I am not worried a second about this scenario crisis, just because a bunch of huge giants investors decided about making this crisis theater. Many people have losen their jobs like every year there was no crisis, the life goes on and we must deal with it or not! The thing is CEO of litle companies like me should be able to make anough profits for investing more seriously. In those times of economical troubles it is the time to gather all of our money and invest so when the prices goes up, all the people that where doing no money will do capital gains. I think Wall Street has always helped the people to make an economical cycle so the giants looses and the tiny David's win's!