Lisa Simpson
Aug 10,2009
In: Finance

Insiders Are Playing Deadly Games in Wall Street

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Insiders are playing deadly games in Wall Street. At one time everybody looked up to a bright future in the finance sector to become bankers and financial managers. But even then there were skeptics who did not think Wall Street a very respectable place to crowd around in. Most of the deals appeared to be stage-managed. It is not a street where Trust and Faith walk around hand in hand.

Even two decades again there would be phone calls about companies splitting and slicing. Perhaps this led to their staying rich. Houses were bought and sold, flipped and swapped but all that has vanished. Nobody is collecting statistics about those who made their homes from houses bought with hard earned money. In all probability these are still there intact with hearth fires burnings.

From the 90’s till 2000 and 2001 many were lured into IPO’s funded by Goldman Sachs and CIBS. Huger profits were promised. One of the largest IPO in biotech was guaranteed by CIBA. The price shot up and went down within a couple of months. Nothing was sold in the open market and the bulk of the profits journeyed overseas. Anything that managed to hold on long was subjected to low taxes when these were sold. The top brass executives and inside investors lined their pockets. The investors donated to the same medical institutions where the transfer of research and technology happened. In other words it was a sort of exclusive private club having all the correct political connections. When the time came for the most costly part of biotech procedure – testing on humans, the company had fantastic free access to the soldiers of USA.

Some banks and companies fail while others are not allowed to fail – thanks to high connections in the power zones. The difference today is that these connections are being flaunted and the ordinary man is realizing that whether they know about it or not, they can do nothing about it. But where there is a will there is a way.

The first thing is thorough investigation and publishing of the findings. The binocular should point across the oceans to smoke out where the loot is stacked. One needs to go on looking and searching together with shouting and screaming. It has to continue until all the rotten apples are replaced by good ones that can be trusted. A good beginning is to pester the representatives to induce more rules and regulations together with operating more investigations. This will sour the party that has been going along for too long. But one needs to be careful because these buddies can turn real nasty and not just reel nasty. Things can become tough and dangerous.