May

18

Does the incessant parade of illegal/insider trading, government manipulations, etc, of smart Ivy grads evidence the difficulty of getting rich in markets, or simply that dishonesty and greed is pervasive at all intelligence levels?

Gary Rogan writes:

It's probably evidence of both, but also of the illusion that highly successful people often seem to have of being invulnerable to normal negative forces, such as being punished for attacking hotel maids or being revealed for having a secret "love child" while running for the Governorship of California, or having an easily identifiable affair while running for the presidency. 

Bill Rafter writes: 

Don't the B Schools all have required ethics classes? Come to think of it, doesn't the industry regulators also require ethics classics?

Rocky Humbert writes: 

The United States has an incarceration rate of 743/100,000 population.

The New York City's financial industry employees 344,700 employees.

If the pro-rata incarceration rate for Wall Streeters were at the national average, there would be 2,561 Wall Streeters in the Big House right now. Or, with 35,400 employees, 263 of these people would be Goldman Sachs employees.

Since neither of these facts are true, the inescapable conclusion is that Wall Streeters are either more lawful than the national average (or they have better defense lawyers).

QED


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