Friday, October 8, 2010

OpEd

 Make Wall Street Risk It All
William D. Cohan
 The article is mainly concerning the serious flaws in Wall Street.  It discusses the "Dodd-Frank Act" which was recently signed by Obama, the issue with this act is that the incentives on Wall Street remain the same.  The concept of the rich get richer while the poor get poorer is truly bothering and yet this has been allowed for over 40 years.  A horrific example of this occurred in the office of Goldman Sachs.  In 2007 when the mortgage boomed, the three top executives split around 200 million dollars from the 17.6 billion that the company made in pretax profits.  The capital that the head honchos in this industry make is sickening and in this article it becomes much more apparent to any reader.  It suggests that each big firms security is backed by its top 100 execs, and that the financial stability will only be as true as the wealthy men running the company.  I completely agree with this though I doubt these greedy bastards would ever risk their own worth.

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