Gary Weiss
Gary Weiss
Gary Weiss is an American investigative journalist, columnist and author of two books that critically examine the ethics and morality of Wall Street. He was also a contributing editor for Condé Nast Portfolio. His Business Week articles exposed organized crime on Wall Street and the Salomon Brothers bond trading scandal in the 1990s, and more recently he has covered the 2008 financial crisis and its aftermath. Weiss is co-founder of The Mideast Reporter...
NationalityAmerican
ProfessionJournalist
CountryUnited States of America
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Kochi, formerly called Cochin, is a former European settlement with a large Christian population and a seafaring heritage. It is a town of enormous charm that reminds some visitors of the Caribbean more than India.
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Numerous academic studies have shown that amateur investors make poor traders - buying stocks for the wrong reasons, holding losers for too long, and acting on whims and emotions.
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I found that options traders - the Amex was mainly an options exchange - routinely conspired to keep as wide as possible the spreads between the prices investors paid and the prices floor traders paid for the same securities.
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There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
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When it comes to making laws that protect the public from the financial services industry, Congress has done a progressively worse job since the Pecora Commission hearings of the early 1930s, which led to Congress taking bold steps to regulate banking and securities firms in 1933 and 1934.
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When Corporate America finds a Jayson Blair in its midst, the standard operating procedure is to circle the wagons and deny that any form of liability extends up the chain of command.
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The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.
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Excessive hype, bankruptcy, cash burning like autumn leaves - such is the stuff of short-selling.
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Indians are sometimes accused of being condescending toward Westerners and of being excessively preachy in their attitude toward other nations. That accusation is sometimes correct.
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No other facet of American business is more corrupt, more intoxicated with illegality, more weakly regulated, and has a greater impact on poor and working people than debt collectors; not credit card companies or subprime mortgages, not even payday lenders.
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Despite all the drawbacks, the Internet provides a wide array of information - and some of it is being watched pretty carefully by the pros.
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George Soros is one of the few characters from the world of finance who deserves to be called larger-than-life.
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India may be the only country in the world that has been free of anti-Semitic prejudice throughout its history.
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Legitimate institutions historically have been defenseless in the face of outright fraud.