Journalist Quotes

Newt Gingrich is a boastful kind of guy. But when it comes to Wall Street, the former House speaker is surprisingly modest.
No other facet of American business is more corrupt, more intoxicated with illegality, more weakly regulated, and has a greater impact on poor and working people than debt collectors; not credit card companies or subprime mortgages, not even payday lenders.
Numerous academic studies have shown that amateur investors make poor traders - buying stocks for the wrong reasons, holding losers for too long, and acting on whims and emotions.
Oil futures were originally created to give heating oil dealers, gas retailers, aviation companies and other businesses a method of hedging against adverse price changes. Instead, they've become just another Wall Street plaything.
One problem with the focus on speculation is that it tends to promote the growth of the great intellectual cancer of our times: conspiracy theories.
Ordinarily, the feds piggyback on the S.E.C. in complicated financial cases, but history proves that breath-holding on that score is a dangerous endeavor.
People are told their rights when they're arrested. Consumers getting collection letters are entitled to the same courtesy.
Shorts wager on price declines by selling shares that they have borrowed in the hope of buying them back at far lower prices.
Short-sellers perform a useful function in the market as conduits of negative information, and shorts often complain that they are discriminated against by regulators.
Some hedge fund managers have made big bucks trading oil futures - George Soros is one.
The Amex has a long, often troubled, sometimes glorious history.
The flip side of humiliation is pride.
The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.
The media and marketing deluge has spawned a new type of Wall Street loser: the armchair momentum player. These are novice investors who engage in short-term stock buying and selling based on media reports or an expert's enthusiasm.
The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.
There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
When Corporate America finds a Jayson Blair in its midst, the standard operating procedure is to circle the wagons and deny that any form of liability extends up the chain of command.
When it comes to making laws that protect the public from the financial services industry, Congress has done a progressively worse job since the Pecora Commission hearings of the early 1930s, which led to Congress taking bold steps to regulate banking and securities firms in 1933 and 1934.
When the Securities & Exchange Commission settled securities-fraud charges against Richard Harriton, former chairman of the clearing subsidiary of Bear, Stearns & Co., there were smiles all around. The SEC was happy. Harriton was happy. Bear Stearns was happy.
With 'posts' running in the millions, Internet message boards have become an essential part of the savvy investor's arsenal.
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