wall street at work........ / cartoon
posted by jmf at 2:03 AM
Sunday, October 29, 2006
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2 Comments:
Great post, JMF! Thanks much, -Vega
"Few on Wall Street dare to tell the truth, nobody wants to lose their jobs and/or end-of-the-year bonuses. Economists employed by investment banks have an implicit interest in being cheerleaders for economic growth. Growth implies earnings growth and stock market gains, and therefore more money for their firms. Investors won't be drawn to the stock market if they know a recession is coming."
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