Quote from flytiger:
True. "As of now". But no one kills themselves for another's crime. He pulled millions. He was a broker. When I was a broker, I knew when and how I was being paid. When I dropped a ticket, I knew the gross, the payout, where I was as far as bonuses were. He didn't pull that dough not knowing. He knew exactly why and how he was paid. IMHO.
He couldn't get work. WTF???!!!!!! He drew some 20mm$$$$$$ Know how many guys I know can't get work, and they never made 20mm? So what was his problem? Rejection? Take 5mm and do something with it. Or even work that charitable foundation. You made your money. Make something of your life.
If he was innocent, and now I guess we'll never know since he won't be standing trial, he's one of hundreds of millions suffering who also are innocent.
All of the guys here on these boards pull a living,or have an interest in, trading or investing. Guys like Madoff, Fuld, Blankfein, you name 'em, are threatening all you hold dear. They have to be whipped, fucked, and driven from the land, as a dear friend of mine is fond of saying.They have bastardized the process to the point where they have empowered the enemies of Capitalism. If we don't fight, and protect what we have, who will? This solution better come from inside the industry, and very quickly. Left to outsiders, there will be no industry. And I don't blame them.
Tell you a quickie. I ran into a Wall Streeter. Guy was a total douchebag. Knew everything, was disagreeable, and we were trying to conduct some business not related to securities. So, I sat and watched and endured his belligerence. He embarrassed his wife to no end. He was retired, but I assumed that he was a higher up. When I got the chance, I asked him about the state of affairs, and he hung his head and uttered, "it's too late." I was struck about how humbled he was, if only for a minute. And I will tell you, that is the attitude of the higher ups at the firms. They know they screwed the pooch, and they knew it a while back. I believe they know their firms, at least in their current forms, are doomed. I think they are looting what they can.
Remember on Wall St., nothing is forever, or even generational. You all know of Livermore. I knew a guy who knew Hutton, JH Bache, you name them, and he rode the elevator with them. They're all gone now, and so are the firms. A lot of these will be gone too.
I am as much encouraged, as I was discouraged in 2005, that we have all these guys on the boards that have broken the code. If you don't fight for what is right, who will?
