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Edited on Fri May-07-10 09:11 AM by Beetwasher
Listen up dummies. As if you needed any more evidence than the supposed "glitch" yesterday that sent the market into free fall; REGULATION IS FOR YOUR OWN GODDAMN GOOD.
Idiots.
Honestly, some of the dumbest people I have ever known were stock brokers. Don't get me wrong, I've known some really smart one's too, but it's really not a profession that necessitates a high IQ to be involved in. Those that are smart can do very well, but again, being smart is not a prerequisite for doing well. In fact, I could argue that the real quality that can help you achieve is the ability to be able to lie with impugnity and stab people in the back and then step on their throats to get ahead. Lack of a conscience and low cunning will get you farther on Wall St. than smarts, IMO.
What happened yesterday should tell us all we know about Wall St. They need to be saved from themselves. The fact that they could design a system that can be so flawed as to allow what happened yesterdy shows they NEED the gov't to babysit and supervise them.
Tell me again how these guys deserve their million dollar salaries if they can design a system that allows a typo to wipe out billions of dollars in a matter of moments?
Thanks for making the point FOR regulating you more eloquently than any politician or I ever could.
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