Fascinating NYT article on a former Wall Streeter:
"The temptation is to dismiss Mr. Lewis, 73, as a crank, except he once ruled as an eccentric genius of arbitrage, with a preternatural feel for the tectonic movements of the markets. He has railed for decades about venalities now on daily display. Rude truth is his currency.
He knows Wall Street’s heights. He helped hire Michael R. Bloomberg, and he invested the money of two former Securities and Exchange Commission chairmen, making a fortune in the 1980s. And he knows its depths, since he pleaded guilty to stock manipulation in 1989, and was barred from the Street"
"Mr. Lewis sees a banking system in unstable remission. Goldman answers to no one. China and Europe are wobbling, deflation is at the door, another crash is coming. "
http://www.nytimes.com/2012/09/16/n...vocateur.html?pagewanted=4&ref=general&src=me
We've got some financial types on this board. Would you be willing to provide some insights/commentary?
omni
"The temptation is to dismiss Mr. Lewis, 73, as a crank, except he once ruled as an eccentric genius of arbitrage, with a preternatural feel for the tectonic movements of the markets. He has railed for decades about venalities now on daily display. Rude truth is his currency.
He knows Wall Street’s heights. He helped hire Michael R. Bloomberg, and he invested the money of two former Securities and Exchange Commission chairmen, making a fortune in the 1980s. And he knows its depths, since he pleaded guilty to stock manipulation in 1989, and was barred from the Street"
"Mr. Lewis sees a banking system in unstable remission. Goldman answers to no one. China and Europe are wobbling, deflation is at the door, another crash is coming. "
http://www.nytimes.com/2012/09/16/n...vocateur.html?pagewanted=4&ref=general&src=me
We've got some financial types on this board. Would you be willing to provide some insights/commentary?
omni