All too often, the pitchmen are selling the notion that if you gain ‘control’ over your financial destiny – pick your own stocks and execute your own trades – it will be the first step on a short road to riches. Gary Weiss Read Quote
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. Gary Weiss Read Quote
Some hedge fund managers have made big bucks trading oil futures – George Soros is one. Gary Weiss Read Quote
If you think Wall Street has a short memory, you’re dead wrong. No, the folks who work on Wall Street, regulate Wall Street – and, above all, invest in its wares, notably its hedge funds – don’t have a bad memory. They don’t have any memory at all. Gary Weiss Read Quote
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. Gary Weiss Read Quote
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. Gary Weiss Read Quote
Legitimate institutions historically have been defenseless in the face of outright fraud. Gary Weiss Read Quote
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. Gary Weiss Read Quote
Newt Gingrich is a boastful kind of guy. But when it comes to Wall Street, the former House speaker is surprisingly modest. Gary Weiss Read Quote
Debt collectors should be required to disclose the applicable statute of limitations in the body of their collection letters, in bold type. While it’s not illegal to dun a consumer for an old debt, it is illegal to sue for one. Gary Weiss Read Quote
