"...Speculating without any concern about being held accountable is exactly what the army of Wall Street bankers and traders will continue to do. Regardless of the fact that this very behavior was a key cause of the recent financial mess, that is what they are still being rewarded to do. Wall Streeters like to extol the complexity of their work, but in reality, it’s that simple.
The Dodd-Frank Act, the Volcker Rule, the increased capital requirements and the rest have done next to nothing to change the fundamental fact that bankers and traders are still being rewarded to take imprudent risks with other people’s money in order to get big bonuses. That’s the Wall Street reality. The rest is just entertainment.
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