Friday, November 28, 2008
No, not for people per say, as for the Wall Street investment banking community as a whole. Tom Friedman's Op-Ed on Thanksgiving Day, "All Fall Down," definitely had the ring of a funeral dirge on the downfall of Wall Street (most recently, Citigroup) and who was responsible. Which is something people will be discussing for years to come, no doubt. His source for the Op-Ed, from Portfolio.com, was an article by Michael Lewis called simply "The End." Lewis wrote a book back in 1989 called Liar's Poker, which some could say was the harbinger of the current crisis, chronicling the excesses of Wall Street and the not exactly truly financially savvy people who were dispensing investment advice to average citizens. Time proved him more or less right, clearly-- the Humpty Dumptys of investment banking fell off the Wall and now they're looking to all the president's horses and all the Congressmen to put them back together again.