Why do people do bad things at work? A recent paper out from Andrew Lo, a finance professor at MIT's Sloan School of Management, suggests it might be a lot more about the corporate culture than the individuals themselves.
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Fish yourself a Dow stock out of the earnings pond.
Go ahead—grab your rod and reel one in.
Now ask yourself this question: Will it blend?
Yes, the federal government does a lot of stupid things. And yes, it's easy to see why Wall Street firms are bailing out of the Troubled Asset Relief Program: to avoid having to deal with the government's ever-changing rules and with publicity-hungry congressmen. (Is there any other kind?) But that doesn't excuse the way that Wall Street is engaged in selective memory now that the government has shelled out trillions of taxpayer dollars to keep the Street alive.
Graham Summers submits:
We’ve been over the numerous BS excuses that US Dollar destroyer extraordinaire Ben Bernanke has made for QE enough times that today I’d rather simply focus on the REAL reason he continues to funnel TRILLIONS of Dollars into the Wall Street Banks.
Rortybomb submits: There’s currently a shadow bailout of Wall Street coming down the road, a complete steal for the low, low price of $30 million dollars. (Remember “millions”? In the context of shadow bailing out Wall Street, where you need to ante up “billions” and “trillions” to even sit at the table, it’s been a while since I’ve heard the “m” word.)