It isn't as if these people didn't know better....
Just because someone has an English surname, a long pedigree, Ivy League credentials, and a respectable job in the financial district doesn't mean they aren't actively participating in organized crime. The code of silence certainly has been in place for years.
How many family fortunes have been devastated while these guys were having Monday lunch, trading stock tips on the firms they were hired to regulate?
Last week, I visited a recently widowed family member at her retirement center. It appears her late husband had everything in cash before the crash arrived. One of her friends, in her eighties, also recently widowed, was not so fortunate. I could feel the worry in her heart. She was wondering if a lifetime of work and saving would be enough to allow her to live out her life in the modest dignity of this facility, where she had the basics of safety, food, and company.
This is the true impact of the hustlers on our culture.
Denninger provides one such example from today's odd-looking activities at Wall Street.
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