ADVERTISEMENT



Google       

Home -> Law Blog Directory -> International Law Blogs -> Misleading Advertising Law

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Bookmark

International Law

: Misleading Advertising Law

10 Con Artist Tricks to build the New Bull Market

ADVERTISEMENTS
NEW YORK - DECEMBER 21: People walk past a pa...

Image by Getty Images via Daylife

Paul Farrell, writing at MarketWatch, has a nice skeptical view about whose ox is going to get gored.


"Wall Street wants a new bull more than you do.

Why? Bulls breed megapayoffs.

Yes, Wall Street's running a handicap race on a bad playing field, a rotten economy.

Yes, the pressure's enormous.

But if Wall Street wants to get its hands back in the magic cookie jar soon, it has no choice. It must get super-clever super-fast and jump-start a roaring new bull for the rest of America's 95 million investors, quickly.

Get it? Wall Street must deliver a new bull market, fast and soon."

So how will this "miracle" occur?

Paul lists 10 con artist tricks, but here is one I like the best.

"2. No Glass-Steagall revival

From 1933 until 1999 the Glass-Steagall Act separated banking to avoid conflicts of interest:

Investment banks are high-risk gamblers playing with other people's money, raising capital, trading, crafting merger deals and earning commissions.

Commercial bankers have a fiduciary responsibility to conserve capital and minimize depositors' risk; they earn salaries.

In 1999 Congress tore down that wall.

Citigroup merged the two, became a financial supermarket, and has since lost 90% of its stock value, contributing to the meltdown.

Still, last year Morgan Stanley and Goldman Sachs became bank holding companies to engage in both businesses and get free TARP money.

Reviving Glass-Steagall would hurt them, and delay a new bull."

Who was it that said: "It might look extremely unsound as an investment, --- but as a gamble, it was very attractive."?
Related articles by Zemanta
Reblog this post [with Zemanta]

Full post as published by Misleading Advertising Law on February 10, 2009 (boomark / email).

Bloggers, promote your law blog by nominating your blog for inclusion in USLaw.com's Law Blog Directory and RSS Reader. Benefits described.
Lawsuits and Settlements

US Government
alleging land surveyors should not be allowed on private property to build a US Mexican border wall.

N.Y. Nightclub Owner
Settlement reached Red Bull Energy Drink lawsuit.

Whole Foods Market Recalls Bulk Hazelnuts
Whole Foods Market Recalls Bulk Hazelnuts

Billion Dollar Ice Market
Probed for Price-Fixing

G&J Gourmet Market Cocoa
Recalled for Possible Melamine Contamination

Apple Inc.
allegedly maintained an illegal monopoly on the digital music market.

Related Searches

























































































































US Law
#1 Online Legal Resource













Your Blog Subscriptions
Subscribe to blogs

10,000+ Law Job Listings
Lawyer . Police . Paralegal . Etc
Earn a law-related degree
Are you the author of this blog? Adding USLaw.com to your Blogroll increases relevance. You qualify to display a USLaw Network badge.
Suggest changes to this blog's description or nominate another for inclusion. Register for updates.


Practice Area
Zip Code:

Contact a Lawyer Now!






0.0141 secs (new cache)