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
capturing crucified endless rows since
Humiliating events have a way of capturing the public's imagination. So it has been since antiquity, when gladiators were pitted against each other and the legions of Spartacus were crucified in endless rows on the way to Rome.
exchange floor found investors mainly options paid possible prices traders wide
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.
academic amateur buying holding investors losers numerous poor shown stocks studies traders
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.
function market perform shorts useful
Short-sellers perform a useful function in the market as conduits of negative information, and shorts often complain that they are discriminated against by regulators.
dare funds managing money mutual resembling since
Mutual funds dare to be average. In fact, they dare to be lousy. They have long since ceased striving for anything resembling perfection when it comes to managing your money.
chairman charges clearing commission exchange former richard securities settled smiles
When the Securities & Exchange Commission settled securities-fraud charges against Richard Harriton, former chairman of the clearing subsidiary of Bear, Stearns & Co., there were smiles all around. The SEC was happy. Harriton was happy. Bear Stearns was happy.
guy man met
I've met Dick Syron. I like the guy. He's a man's man kind of character, a real charmer, the kind of guy you'd want to have a beer with, as well as being an economist of considerable repute.
america blair chain corporate deny finds form liability operating procedure standard
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.
adverse against aviation businesses companies created gas method originally street wall
Oil futures were originally created to give heating oil dealers, gas retailers, aviation companies and other businesses a method of hedging against adverse price changes. Instead, they've become just another Wall Street plaything.
actions attention bank betting divert share tends villains
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.
correct diversity historical india religious resent teach west
In the U.S., diversity is a politically correct slogan. In India, it is a historical fact. Much as we in the West may resent it, India has a lot to teach us when it comes to religious tolerance.
parks refused rosa sexual sit wall
In the struggle against sexual discrimination on Wall Street, Pamela K. Martens is a latter-day Rosa Parks - a woman who, metaphorically speaking, refused to sit in the back of the bus.
dating funds history insider people trading
Insider trading by hedge funds has a long and distinguished history, dating to the days when people didn't know that there was such a thing as a hedge fund.
human rooting
I'm rooting for Saudi Arabia getting a seat on the U.N. Human Rights Council.