Professor Elam

Friday Dec 3 2010

This article from the New Yorker shows that Las Vegas has come to Wall Street. Most of the 'banks' are now simply gambling houses. Only a minor amount of income results from raising capital, most comes from 'trading' but in a way that you or I will never be able to do. 

I hope they are saving their gains, I doubt they will be rescued in the next meltdown.