You're right he doesn't mince words. At one time Lehman was viewed as one of the most upright/straight investment bankers on the Street. Bear always played fast and loose. Sad. For one thing these decision makers make so much money that they don't have to fool around like they do. But I guess its an ego game that normal people can't really comprehend. Bear Stearns of course didn't pony up money in the Long Term Capital bailout so they were in the cross hairs for a long time.
I read the Lowenstein book on LTCM and remember Bear's actions. I'm in no position to say who's ethical and not on Wall Street. They all seem a little shady to me. But that could come down to the difference in conduct between broker/dealers and registered investment advisors.
You're right he doesn't mince words. At one time Lehman was viewed as one of the most upright/straight investment bankers on the Street. Bear always played fast and loose. Sad. For one thing these decision makers make so much money that they don't have to fool around like they do. But I guess its an ego game that normal people can't really comprehend.
ReplyDeleteBear Stearns of course didn't pony up money in the Long Term Capital bailout so they were in the cross hairs for a long time.
I read the Lowenstein book on LTCM and remember Bear's actions. I'm in no position to say who's ethical and not on Wall Street. They all seem a little shady to me. But that could come down to the difference in conduct between broker/dealers and registered investment advisors.
ReplyDelete