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
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.
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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.
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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.
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The media and marketing deluge has spawned a new type of Wall Street loser: the armchair momentum player. These are novice investors who engage in short-term stock buying and selling based on media reports or an expert's enthusiasm.
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Newt Gingrich is a boastful kind of guy. But when it comes to Wall Street, the former House speaker is surprisingly modest.