I’ve attached a great interview here with former investment banker and author of “House of Cards”, William Cohan. He explains how nothing has really changed on Wall Street despite the near collapse of the U.S. economy. The U.S. taxpayers have shelled out trillions in rescue funds and what do we have to show for it? The rules haven’t changed, the regulations haven’t changed, the bankers will pay back their TARP funds and incentivize eachother to take massive risks, etc. We can push through a $700B waste of money in a night, but we can’t pass a few laws that might help ensure that this never happens again?
Interesting outlook here:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.