Dec 5, 2019
It’s been 10 years now and WS keeps doing the same mistakes over and over again. I urge everyone listening to watch Margin Call and The Big Short, whether you’ve seen them before or not. The lessons of these movies are more relevant than ever. Wall Street has learned that when in doubt, get a bailout. The next one will be here before you know it. As Chris and I discuss, we need a skin-in-the-game economy, where Wall Street and its managers actually risk their own capital and risk complete financial ruin if they tank their companies and industry. Let's go back to the good old day of Wall Street General Partnerships and let's penalize CEO's by taking their accrued fortunes when they kill companies like GE.