Wall Street - Greg Smith - etc.

The world of Wall Street is all atwitter over the op-ed by Greg Smith titled "Why I Am Leaving Goldman Sachs". In it he says customers were called "Muppets", people speak callously about ripping off clients, etc., etc., etc.

Yesterday I read an article crying about the fact "regular" people have not jumped back into the stock market during this latest bull market.

Gee -- think there might well be a connection?

Greg Smith wrote what any sane person knows. He was just the 1,000,000,000 former Wall Street exec. to write something like this.

We, the great unwashed KNOW the "game" is rigged. We know there will be a day of reckoning -- eventually. I suspect that's why so many of the "regular" folks continue to be so "bearish" when it comes to the economy.

There are still a lot of folks out here who want to see heads on pikes. They want to see prosecutions. They want some of the big banks broken up. The want Glass-Steagall brought back. They want mortgage banks to hold the mortgage instead of farming them out. Etc., etc., etc.

Today any honest person on "Main Street" has nothing but contempt for the thieves on Wall Street. They know this house of cards has to collapse eventually.

I hope I'm wrong, but I'm afraid the coming collapse will make 1929 look like a mere blip on a chart. There are too many nations involved in this game of "run ever so faster - just to stay in place".

Perhaps a return to honesty might just be in order.