What do you have against Wall Street?

[Suburbia]

Do you despise Wall Street?

[bedstuy]

There's an analogy I like to make about Wall Street.  If someone works at an ice cream store, they eat lots of ice cream and they get fat.  If someone works on Wall Street, they get lots of money and they get rich.  Such is the way of the world. 

What's the problem with Wall Street?  It's a few things.

Unrestrained greed and cynicism.  People don't to go Wall Street to do anything but make money.  Way too many people in finance are just about pure greed.  People who work in technology love computers, people who design tractors love tractors, journalist love the news, people who work on Broadway love being gay, you know?  But, who loves doing financial homework?  Nobody really. 

And, you see that in the big scandals.  Wall Street people will screw over anyone and ignore massive risks just to make money.  Look at something like Enron or the CDS business at AIG.  Finance guys will sell rat poison brownies to schoolchildren, if there's a big commission.  These companies will screw over their customers, their companies, the public, anyone, they don't seem to care.  Plus, the regulators are dumb lawyers who work for the SEC.  They don't even know what's going on in Wall Street because they're dumb lawyers who can't do math. 

[dead0man]

Like car salesmen, educators, cops, drug dealers (illegal and straight), clergy, govt employees, lawyers, politicians, entertainment "producers" and prison guards, they are a necessary evil.  What's the alternative?  To not have them?  How's that going to work?  How are we going to get there?

[Sprouts Farmers Market ✘]

But, who loves doing financial homework?  Nobody really. 

*raises hand*

Though I agree with everything else you wrote, perhaps worst of all is the arrogance and the fact that the immorality extends into all parts of their life. Their role is obviously important, but it's hard not to despise all that.

[🦀🎂🦀🎂]

Like car salesmen, educators, cops, drug dealers (illegal and straight), clergy, govt employees, lawyers, politicians, entertainment "producers" and prison guards, they are a necessary evil.  What's the alternative?  To not have them?  How's that going to work?  How are we going to get there?

Well it asks do you dislike them, not "are they necessary?" so ...

[Citizen Hats]

I despise Wall Street for replacing the walls of old New York.  Wouldn't it be cool if New York had some old city walls?

[RINO Tom]

Nothing.

[Bandit3 the Worker]

Do you despise Wall Street?

Don't we all?

[Clark Kent]

I don't like corporate welfare and crony capitalism.

[dead0man]

Like car salesmen, educators, cops, drug dealers (illegal and straight), clergy, govt employees, lawyers, politicians, entertainment "producers" and prison guards, they are a necessary evil.  What's the alternative?  To not have them?  How's that going to work?  How are we going to get there?

Well it asks do you dislike them, not "are they necessary?" so ...

Then no I guess.

[Rockefeller GOP]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

[Lyin' Steve]

I despise the parts of Wall Street that screw innocent people over.  F**k Bank of America and their deliberate schemes to frustrate their customers into making poor financial decisions with endless phone mazes and lies and misleading offers and accidental errors.  F**k scammers who take advantage of the elderly or anyone who damages 401Ks.  F**k CEOs who make risky decisions for their companies knowing that they win either way because of golden parachutes into their contracts.

I don't despise the financial homework parts of Wall Street.  First of all, some people (like me, although I don't work on Wall Street) really enjoy the high-stakes, high-consequences math and technology that it entails, and we like working with variables that represent components of the real economy in real time.  It's exciting and feels impactful.  Second, because traders and fund managers and analysts are so good at their jobs, we push the upper margin of returns on the economy, and thus the average American investor can beat inflation by 4-5% every year.  In the old days, you bought bonds or invested in property just to keep up with inflation.  If it wasn't for Wall Street, ordinary middle-class Americans wouldn't be able to save $5-10k a year and have enough money when they retire at 65 to be able to live a fulfilling life well into their 90s.

[Badger]

I don't really despise Wall Street, they are just exercising their rights as free people. However, I wish the government would use their interstate Commerce powers to make sure they aren't screwing us over.

About this, so no.

[Green Line]

Nothing.

[The_Doctor]

I call myself a Wall Street Republican so ...

[Bismarck]

I don't like how Wall Street uses its political influence to give itself an advantage. I have no problem with big businesses or corporations or people having more money than me. I'd like to see an equal legal playin field though. If my local bank went under, they certainly wouldn't get a bailout.

[Taco Truck 🚚]

What do you have against Wall Street?

[Orser67]

They're the primary symbol of a consumerist culture that places great prestige on working long hours, making a lot of money, and buying stuff, and not nearly enough emphasis on being happy, spending time w/friends and family, and feeling fulfilled. They also sustain a system of ownership that places shareholder profits ahead of making a good product or treating employees fairly.

They also have too much political clout, although I generally appreciate their efforts against the Tea Party.

[Orser67]

If it wasn't for Wall Street, ordinary middle-class Americans wouldn't be able to save $5-10k a year and have enough money when they retire at 65 to be able to live a fulfilling life well into their 90s.

I disagree with this. People would be just fine with unmanaged mutual funds.

[Figueira]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

Moderate Republican, everyone.

[Rockefeller GOP]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

Moderate Republican, everyone.

No, we all know they don't exist because a bunch of people way left of center have all graciously defined the term for all of us!

[OSR stands with Israel]

I don't like corporate welfare and crony capitalism.

[SWE]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

Moderate Republican, everyone.

No, we all know they don't exist because a bunch of people way left of center have all graciously defined the term for all of us!

I thought you said you weren't bitter?

[Rockefeller GOP]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

Moderate Republican, everyone.

No, we all know they don't exist because a bunch of people way left of center have all graciously defined the term for all of us!

I thought you said you weren't bitter?

I'm not (about the OP that I was clearly responding to).

I am about fringe people defining the political spectrum from their crazy chair.

[Figueira]

Do you despise Wall Street?

Don't we all?

No, some of us aren't bitter.

Moderate Republican, everyone.

No, we all know they don't exist because a bunch of people way left of center have all graciously defined the term for all of us!

I thought you said you weren't bitter?

I'm not (about the OP that I was clearly responding to).

I am about fringe people defining the political spectrum from their crazy chair.

I wasn't implying that you weren't a moderate Republican; I was saying that this sort of attitude being prevalent among moderate Republicans shows how moderate Republicans are still pretty right-wing.