NP - New Speedway

[alice wellintown]

The article in the Times is almost  fair. But, as usual, the spin is
to blame Wall Street. Are people so naive, as to believe that Wall
Street is a simple as these articles and best selling books suggest?

Millions of major projects get financed by a governments with the help
of Wall Street.

The article suggests that Wall Street cooks up crooked strategies to
help corrupt politicians rip-off the citizens. This is distortion.

You need lawyers, bankers, scientists, accountants, and government  to
make a deal. Politicians can't do it without Wall Street. Get it? You
don't get bridges, power plants, schools, without wall street. When a
government needs help raising money or structuring a deal, or making
decisions in the complex and dynamic capital markets, it needs wall
street. What does Obama know? Nothing. Well, he knows he needs all
those wall street guys around him if he is to do his job.


If the politician are corrupt, and in Greece there is not an honest
one, they must take the blame not wall street. No one elects wall
street so why let the press blame an industry for what elected men and
women must be held accountable for? If wall street men and women broke
the law, they too must pay.

Wall Street, btw, is a term that is not so easy to define, but means
not a few block in NYC or even the financial or banking industries who
have home offices in NYC, but a global financial industry. After 9/11
the NY Wall Street lost tons of markets and deal making. Do you think
the European Banks felt so sad for the US firms as to not rush in and
grab the business the US firms could not handle post-9/11? Itz shark
infested waters, don't get a hang nail. On 9-11 the US Wall Street had
its head blown off. It's still looking for grey matter in the dust and
debris. BUt the rest of the world rushed in and too business away and
it aint never coming back.

So NY Wall Street, leaner, a bit meaner, desperate in parts, is taking
more risk, The world markets, if you haven't noticed, set volatility
records weekly. Itz shark infested waters.

The sad irony, is in the darkness that has to give. But it won't give
as long as we continue to look at this thing as US & Them. In NYC,
wall street is the heart of our economy. It won't give if our kids
protesting down on wall street  don't know about Tiananmen, and how
tank man was murdered and why the students in that square were reading
Jefferson not Marx and why they erected paper mache models not of Mao
or of the Eiffal Tower, but of lady liberty. There she still stand,
not far from wall street. The two, a seeming con tradition, are Them
and US.

The darkness got to give; it descended on this city on this nation on
9-11. It won't lift less we stop pointing fingers and that can't
happen without leadership and a clear message. Where do we go from
here. Hint: not to wall street.






http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all