The Business of Wall Street

I have plenty of thoughts on the financial crisis that happened in 2008, from regulators falling asleep at the wheel, bankers doing what they do best and exploiting a market with no regard for the consequences, and people thinking they can spend when they really did not have the money.

That being said, Mark Cuban’s recent post about Wall Street’s goals is spot on. While I think he is a bit optimistic in that I feel we are somewhat beyond the point of reigning in the bulls, I do believe it’s something we need to be discussing on a national stage in the country.

Sadly I don’t feel many people outside of the industry really understand the implications and basic foundation of high frequency trading platforms, so I am not sure how fruitful that national conversation will be without it becoming overly political. Still, better to have the conversation than not. It’s time we took a good hard look at what the market should do for the country.

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