But the reality is, the brains of investment bankers by nature are not wired for “client-based” thinking. This is the reason why the Glass-Steagall Act, which kept investment banks and commercial banks separate, was originally passed back in 1933: it just defies common sense to have professional gamblers in charge of stewarding commercial bank accounts.
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The 2 Billion UBS Incident: ‘Rogue Trader’ My Ass | Matt Taibbi | Rolling Stone (via rafer) Sawickipedia: yep |
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