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Wall Street Firms Have Been ‘Very Wounded’


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I shouldn't have taken the red pill. I now realise, I don't like the real world. It's just pathetic.

Somebody take me back to X Factor!

http://www.bloomberg.com/news/2011-10-05/geithner-says-wall-street-firms-have-been-very-wounded-.html

U.S. Treasury Secretary Timothy F. Geithner said today that Wall Street firms have been “very wounded” and that he doesn’t understand why they are so sensitive.

“They resent the huge amount of public anger they’ve been subjected to because they caused the crisis,” Geithner said at the Washington Ideas Forum at the Newseum. “They react to what is pretty modest common-sense observations about the system as if they’re deep affronts to the dignity of their profession.”

“I don’t understand why they are so sensitive but they’re very wounded and they’ve seen a huge amount of damage to people’s confidence and their capacity to not just manage risk and to meet the needs of their customers but in a broader public consciousness,” Geithner said.

He did not cite any Wall street firms or banks by name.

To contact the reporter on this story: Cheyenne Hopkins in Washington at [email protected]

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Wall Street Banks, and the Fed have gradually destroyed the notion of democracy, the USA and the dominance of the Western World.

Collectively, from the time of Andrew Jackson, to Woodrow Wilson, through to the present, the Fed, and Wall Street Banks are the worst traitors ever to have existed.

A greater enemy to the USA than the former USSR

Edited by Milton
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There wounded because they fear retribution. For decades they've treated the masses like cash cows and now reality is catching up on them. If you think you are better than everyone else don't be surprised no one comes to your aid when you've dug your own grave.

Many of the people at the top of these banks have utter contempt for the people, it seems they can't deal with the proles having contempt for them.

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I shouldn't have taken the red pill. I now realise, I don't like the real world. It's just pathetic.

Somebody take me back to X Factor!

http://www.bloomberg...y-wounded-.html

I think the 14 triliion in support and still taking massive bonuses, golden parachutes and all that might just offend once sense of decency.

And still they bought Grrek, Irish, Italian Spanish and Portuguese debt and complain about falling dominoes.

I think Watchdog ought to do a program on them....rogue traders special

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It's too late though isn't it?

I think the solution is a subtle one. Not caring about the global financial situation is foolish, but so is making it one's primary concern. We need to be like a farmer who puts 95% of his energies into his daily tasks and 5% into keeping an eye on the horizon. I don't think it's an easy balance to strike, but it's something to aim for.

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I think the solution is a subtle one. Not caring about the global financial situation is foolish, but so is making it one's primary concern. We need to be like a farmer who puts 95% of his energies into his daily tasks and 5% into keeping an eye on the horizon. I don't think it's an easy balance to strike, but it's something to aim for.

In my case I'm a bit like aa3. I'd like to invest my energies in a real business. But I don't have the visibility nor a sufficient understanding of events to feel comfortable about making a long term commitment.

Say you're a youngster and you spend 3-4 years of your life learning about IT. Only to find out when you are ready to enter the job market that the EU/UK government has opened our borders to 30,000 Indian IT graduates a year and given tax subsidies to companies that employ them. You're screwed!

Everything is like that now IMO. You can't invest in a retail business when the middle class is being squeezed to oblivion by the government's inflationary policies. Should you invest in any manufacturing or most services venture knowing that competition will be able to massively undercut you by producing offshore as encouraged by TPTB?

I think you have to know about macro economic and political issues before you even start doing business. It's too dangerous otherwise IMO.

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In my case I'm a bit like aa3. I'd like to invest my energies in a real business. But I don't have the visibility nor a sufficient understanding of events to feel comfortable about making a long term commitment.

Say you're a youngster and you spend 3-4 years of your life learning about IT. Only to find out when you are ready to enter the job market that the EU/UK government has opened our borders to 30,000 Indian IT graduates a year and given tax subsidies to companies that employ them. You're screwed!

Everything is like that now IMO. You can't invest in a retail business when the middle class is being squeezed to oblivion by the government's inflationary policies. Should you invest in any manufacturing or most services venture knowing that competition will be able to massively undercut you by producing offshore as encouraged by TPTB?

I think you have to know about macro economic and political issues before you even start doing business. It's too dangerous otherwise IMO.

That's why I started an an adult website. 30,000 Indians may be good at IT but they know jack about p*rn.

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Of course, sits on my coffee table right next to "The Story of O" :)

India is actually in 4th place on my google analytics map overlay so they're still definitely a randy bunch.

Incredible, are you serious?

How do you make money from a porn site?

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I prefer "adult comedy" for my brand rather than "p*rn" :)

Being brought up on a diet of Benny Hill and Hammer House of Horror had a deeply profound effect on me.

There will always be a small percentage of people that pay for content (better quality, more niche, want to see more of a particular girl). These people tap in their credit card details to obtain a subscription and this money is transferred to me.

Simples!

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