Thursday, December 1, 2011

Quote of the Day: A Former Fat Cat Speaks Out

“There have been repeated fines and malfeasance at literally all the investment banks, but it doesn’t seem to affect their behavior much. So I have to conclude it is part of strategy as simple cost/benefit analysis, that fines and legal costs are a small price to pay for the profits.”

-- Richard Kramer, former technology analyst at Goldman Sachs and now owner of Arete Research, on how Wall Street financiers see themselves (NYTimes).


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