Thursday, September 30, 2010
What are they up to now?
A suspicious Michael Lewis wonders why Wall Street firms are abandoning the proprietary trading units that they recently fought so hard to keep:
A suspicious Michael Lewis wonders why Wall Street firms are abandoning the proprietary trading units that they recently fought so hard to keep:
To see Wall Street turn its back on money is as unsettling as watching a shark’s fin veer away, and then sink from view. It leaves you wanting to know where the shark has gone, and why.Lewis knows – and we know – it’s not out of the goodness of their hearts. So what's up? ... ML via RCM.
None of the firms have offered a good explanation for their new and seemingly improved behavior, but it’s not hard to think up several.
