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Jan
How corrupt is Wall Street, and how much more are we going to uncover?
Author: admin // Category: subprime mortgageBetween the Enron and Worldcom scandles a few years ago, the current subprime mortgage crisis, and now Bernie Madoff, it seems the entire system on Wall Street is corrupt. How much worse is it going to get?
Quite a bit, if we ever get an SEC that’s worth a damn.
January 28th, 2013 at 3:56 am
It is very corrupt. I bought SUN (Sunoco) several years ago at $93/share. They had record profits in the billions each quarter and the stock went from 93 down to 60 before I sold it. Today it is at 35. And they are still reporting record profits. Steer clear of stocks unless you want to lose your money.
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January 28th, 2013 at 4:01 am
Wall Street always was and will continue to be corrupt. There is so much money involved that it will always attract crooks. I believe that the government has done nobody a service by creating the SEC to "protect" investors. This makes some people think that they don’t have to be careful. If it’s too good to be true, then it probably is. People who do their homework can make money. People who think they can invest blindly and have a right to make money will get screwed.
I’m sorry that poster Mathew lost money, but it just illustrates the rule "never believe corporate statements". Other illustrations are Enron and WorldCom. When something is going down, it’s going down for a reason. Dump it and don’t wait for a statement from the corporation.
The other big rule is "never believe industry analysts." They work for investment bankers and have a conflict of interest.
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January 28th, 2013 at 4:24 am
Quite a bit, if we ever get an SEC that’s worth a damn.
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January 28th, 2013 at 5:10 am
Its as corrupt as the LAPD, many churches, college and professional sports, many peronal tax returns and the checker game at the local senior center.
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January 28th, 2013 at 5:18 am
I bit you, they won’t be able to find out where the 50,000,000,000 went. Best thing is to "cover it up", because you have to calm the market afterall!. We all have to act like good responsible citizens, and just shut up. This is a country for sale people!! Taxpayers to the rescue!!!!??
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