Wall Street Traders Bring Home Far More Than Brain Surgeons

Which ones specifically? and don't google one for giggles:)
— January 19, 2011 3:21 p.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Don, the treasury is controlled by politicians and the Fed is a private corporation basically answerable to nobody, even Congress for that matter despite what the talking class assures the population. Hayek, Nock, Smith, et al would be turning over in their graves if they knew the thievery going on today, the likes of which hasn't been seen since the Grant administration when Fiske and Gould tried to basically kidnap Grant and corner the gold market in 1869. The level of incompetence and crookedness that these incestuous "Flexions" in the Fed, Treasury, Goldman Sachs, and Commerce dept are capable of is unparalleled. These "Flexions," this high level cabal of government and business people are are looting everything for their own gain, but there's absolutely nothing we can do about it. So instead of bursting a hemorrhoid about all the thievery going on, a sagacious person will figure out that the government actions will move the markets and one might as well make a few bucks out of it, acting in their own self interest. The rational producers, the profit makers, the businessmen of this country are all under siege from the government class and the muckraking reporters who think they are independent but are just tools of the aforementioned people. Even the so called conservative media like Fox et al are firmly part of the plan of the "Flexion" class which is doing its best to keep the population angry in order to divert attention from this wholesale fraud. You keep mentioning "Today's Reality," which doesn't compute because nothing is different today than it was before somewhere in the world. Governments have always stolen from the citizens, well connected businesses have always flourished, the masses have always been grumbling, and the business class has always been besieged by the State. As you are a business reporter, I will not embarrass you with trying to repeat to you the various panics and busts of the country since the Panic of 1797, as all basically have very common elements, and the causes are eerily similar. Nothing has changed since the the days of the Rothschilds.
— January 19, 2011 2:07 p.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

This is my favorite Krugman paper from the 1970's. I get a laugh out of it as it discusses Interstellar Trade. http://www.princeton.edu/~pkrugman/interstellar.p…
— January 19, 2011 12:23 p.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Have you actually read any of his scholarly papers or do you just read his blog and NYT columns? Wait a minute, that was a stupid question as nobody would ever admit to not looking at the source and doing due diligence, what am I thinking. A close study of his papers shows many inconsistencies with his pseudo-populist views of today that the masses gobble up.
— January 19, 2011 12:14 p.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Did I say I didn't like them? No, you did! I just said that they didn't have a clue about economics. You made that other stuff up like I already said. I have a very good memory of my statements and don't need to be told to read what I wrote:)
— January 19, 2011 10:53 a.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

So, Surfdawg, After GS went public there were no partnerships left on the street? See, you are a good example of one who gets their facts from the financial press etc as this is blatantly incorrect. In your words, then Brown Brothers Harriman is not a partnership, a major player, and their 1.5-3.5 trillion dollars under management doesn't count? http://en.wikipedia.org/wiki/Brown_Brothers_Harri…. Also, one cannot discount the influence on the street of Cargill, a private company that trades 30% of the world's food supply and has a huge presence in the currency and capital markets and they are not trading OPM. I can name 15 partnerships off the top of my head, but if you look at any tombstone ad, you will see for yourself. Please make fact based statements and don't make editorial statements disguised as facts when all you have is an opinion.
— January 19, 2011 10:49 a.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Well, Mr. Bauder thinks Krugman is a caring individual, I but don't know if Mr. Bauder thinks Krugman Knows what he's talking about. At one time, in his 20's and 30's, Krugman produced good work. His work significantly deteriorated at the same time he decided to be the Rush Limbaugh/Ann Coulter of the left. Lots of people think Krugman walks on water, especially the sycophants who agree with most of the editorial pages of the NYT because it plays to their touchy feely emotions. I can personally like people, be friends with them, although I might think that their work and ideas are insufficient or 100% wrong. My late wife was a communist for years, a real communist who studied in the USSR in the 70's when people weren't allowed in, so if I could marry someone who was totally wrong about things.......There's so much more to life than politics, and a hearty debate in the spirit of Franklin is always a good thing.
— January 19, 2011 9:23 a.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

@Surfdawg, No major investment bank has skin in the game? Are you sure you want to stand by that outrageous statement? I suspect that you are thinking of Morgan Stanley and GS, and ignoring the rest of the street (like Brown Brothers Harriman) that are primarly composed of partnerships risking their own capital. Also, Don said that most brokerages are banks. That is a most inaccurate statement and should be revised. While many brokerages own banks, they are not banks. Plus, you should revisit the new FINREG and see what they say....if you can decipher the tangled laws and regulations.
— January 19, 2011 7:23 a.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Oh yeah, supporting regulation when it is flawed? That makes as much sense as a person who would have an artificial heart implanted that doesn't work. The doctor implants it because he "Feels Good" the patient accepts it as "Hope." Most people deal with feelings and base their thought patterns on feelings, I base mine on fact based information and science.
— January 19, 2011 6:26 a.m.

Wall Street Traders Bring Home Far More Than Brain Surgeons

Incidentally,one of my best friends and sometimes associates had Stiglitz as his thesis advisor back in the early 80's. I've found Joe to be a rather engaging person the three times our paths have crossed, and he's a real nice guy, just like Shiller is. Krugman isn't a nice guy and I can tell you that from personal experience as he takes himself way too seriously. Don, I can tell that you would be a horrible speculator as you decided that I dislike Shiller, Krugman, and now Stiglitz with no information leading in that direction, in fact, you pulled that out of thin air. I only mentioned that I thought Krugman's paper that won him the Nobel Prize was sophomioric, I never said I disliked Shiller(said his talk was flawed...that's all) or Stiglitz. That's the trouble with the business reporter class, in that deadlines cause them to create something from nothing whether it is "Stocks rose because of rumors," or I dislike Shiller, Krugman and Stiglitz when I never said that. Oh well, I've been misquoted before. I expect that the economy will muddle along and recover someday, but not through the will of the government. Government regulation doesn't create jobs and prosperity, the private sector does. When was the last time a government "Jobs Bill" actually created jobs? You really think Krugman cares about the lower 90%? Would you share what you have been smoking?
— January 19, 2011 6:21 a.m.