Bing Blog

Risky Business 2: Wall Street in love

Teenage Love

The news is full of pundits, analysts, and even a President opining on the state of the finance business one year after the big plotz. Consensus is that we've all learned nothing. The big banks are getting bigger. Risky instruments are reappearing. The Street is once again getting on its high horse about over-regulation. Thinking people, quite naturally, are worried. We're not even out of the woods yet and here come the same old players starting to sing the same crazy tune.

The critics just don't get it. Wall Street isn't a rational, thinking creature. Oh sure, it's got charts and graphs and metrics and fetrics. But if you want to know the way things really operate, you have to look at a creature that isn't driven by its brain but by its heart... and by any other organ that responds to that beat.

In short, Wall Street has all the sentience, maturity, and emotional self-control of a teenager... or maybe of a 50-year-old guy with a tiny ponytail and a red BMW Z4.

Last year, before the break-up, he was so excited. Love was in the air, and with it lots of money. Love involves risk, of course. But that's at the core of what's so exciting! No risk? No passion. Particularly for an entity whose emotions are quite immature, who needs daily stimulation to remain engaged, who requires the tang of danger to feel fully alive. Those were great days! Ah, to be rich and in love!

Then... the unthinkable happened. The big break-up. Poor Street's heart was broken and what was worse, his belief that the risk was worth taking ever again was smashed to pieces. Poor guy. He languished for months, afraid to grant credit, terrified of incurring debt, sleeping much of the day away, waiting for nighttime when it was permissible to drown his sorrows.

And yet, the heart of the crazy, irrational Street is strong. He can't live without that rush of endorphins that comes with the high-wire act!  So now he's coming back, ready to love again, to make the plunge, to take those risks, even the stupid ones he knows will lead to his destruction again.

Is this wise? Is this the behavior of a thoughtful, mature person? Certainly not. He's a mad, impetuous fool! He can't live without the thrill of the chase, the agony of anticipation, the ache, the yearning, the oasis of glory, and the satisfaction in the dessert of life! He won't! Step aside, world! Love is in the air! He's apt to do just about anything!

Can't anybody keep an eye on him, for his own good?

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9 Comments Add Comment

Is Wall Street necessary?

There are two things we can depend on... Gravity and Greed.

Gravity will keep Wall Street right where it is, and Greed will keep Wall Street doing just what it always does.

Screw rationality! Your logic professor those many years ago was rational. You could see all the good it did him.

Let's make some money!!!

Good analogy. Wall Steet is exactly like some dip-sh*t going through repetitive mid-life crises. The only difference is that the balding, ponytail wearing doofus in the Z4 is only effing up his life (sure, maybe also his kid's lives with each new step-mom, but who cares?) but Wall Street's adolescent antics are messing up the lives of millions....and if it's done often enough the Street is liable to end up getting its n*t's stepped on via some ill-considered and draconian regulations. It won't change until it changes....and then they'll wonder why they didn't see it coming; it's the nature of adolescents to push the envelope. Sometimes they don't even manage to survive to adulthood.

Is the SEC a condom?

The draconian rule that Wall Street lives by ends sooner or later.

We, that lived to see the draconian era of WWII, bear witness to the fact that world's do end!

What would Hitler, Tojo, and Muzzolini do? Ask your grand daddy!


Speaking of logic professors, if the SEC is a condom then Wall Street is a big....

Steve, I think you've struck gold!


If it is a condom, it is a cheap one that is rarely used. Then when it is used, it breaks.

Someone once said the whole world is circus,,,that being the case,,Wallstreet is the clown tent..

I was so thrilled the other day to see a group of experts on TV stating reasons why the average joe should be positive and buy or's good to know there are people out there who have my welfare in mind,,,urging me on to make my fortune,,it's so easy just follow their advice and I cannot lose...sounds almost too good to be true..

What a wonderful world we live in when complete strangers want to help me and my money grow..