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15-Year Wall Street Veteran, in His Own Words: nothing has changed.

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Political Heretic Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 06:39 AM
Original message
15-Year Wall Street Veteran, in His Own Words: nothing has changed.
Sorry I’ve been out of touch so long. It’s just that I’ve become quite disappointed/disaffected by the whole thing. We have failed and “they” have won. All the good that could have come out of the debacle has been lost… and it has broken my heart. The Powers That Be have no inclination to learn anything or correct any of the imbalances. What is even more soul crushing? They are actively and desperately attempting to wrench things back to the way they were. That would be “Mission Accomplished” and it disgusts me.

...

What throws me over the edge is the trend line of where things are headed. All the garbage the people find so offensive — CDOs, proforma loan origination with risks shuffled off to the dumb money via securitization, a culture of insider trading where the playing field is anything but level — is but months away from again becoming the status quo. AND THAT IS EXACTLY WHAT THE AUTHORITIES WANT!!

We have lived through the single greatest injustice in the history of mankind. And it all played out in shockingly clear detail. Yet nothing is going to be done about it. No ill-gotten gains will be disgorged, no rules will be meaningfully changed, and not a single person who caused this will be asked to answer for their misdeeds. The American people have been robbed at gunpoint… and no one cares.

...

Now I’ve moved on. We’re now in the biggest bubble of all time… and I’m more confident than ever that I know how this ends. This ends in tragedy, in a way where no one will be left standing. They’ve turned what would have been a complete collapse of the private sector economy into something that at some point will be a complete collapse of our system as we know it. These sorts of imbalances — economic, social, and political — can not be sustained indefinitely. They will destroy us… I have never been more sure of anything.

Until then however, I’ve given up. They have won and it has broken my heart.

http://www.nakedcapitalism.com/2010/04/e-mails-from-mordor.html
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fasttense Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 06:49 AM
Response to Original message
1. Yup. n/t
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spooked911 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 06:51 AM
Response to Original message
2. "the single greatest injustice in the history of mankind"
this was indeed a terrible crime, but there is a lot of hyperbole here
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jefferson_dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 07:06 AM
Response to Reply #2
6. I was about to comment on that line too...
and more in the OP which amounts to mere hyperbolic bluster. That seems to be rather typical for this "blog". Check this out - http://www.nakedcapitalism.com/2009/03/barack-obama-as-herbert-hoover.html

Anyway, I think there are some legitimate points to be made here but over-the-top shit like this doesn't help that cause.
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Political Heretic Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 09:53 AM
Response to Reply #2
7. Why don't you rate it in this history of injustices. Let's quibble about it, shall we?
You post your top 10 list, then everyone else can post their top 10 lists, and then we an all debate it.

Or....

We can accept that the theft, rape and pillage of the American poor and working class certainly rates up there with historical institutional injustice.

If its rape, it doesn't really matter if it was "gentle" rape or violent rape. Trying to categorize types of rape would be an exercise in absurdity.

Somehow when it comes to the exploitation of the poor and voiceless, everyone wants to quibble.
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RandomThoughts Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 06:53 AM
Response to Original message
3. He also posted this part.
Second, I still think I can do more good as part of the apparatus as opposed to being on the outside. People still listen to me… and just maybe with every day I have a small soap box there’s one
additional person I can convince how rotten Business As Usual truly is. I expect I’m being optimistic on this part… but I can keep my fingers crossed and hope.








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JHB Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 07:03 AM
Response to Original message
4. Socialist! Communist! Pony-Wisher!
:sarcasm:

(in case it wasn't clear)
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 07:04 AM
Response to Original message
5. Recommend
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Political Heretic Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-26-10 08:29 PM
Response to Original message
8. Kick.
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