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Forum Post: Wall Street Bankers:The REAL sopranos

Posted 8 years ago on June 29, 2012, 11:38 p.m. EST by OldCrow (22)
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[-] 3 points by shadz66 (19985) 8 years ago

Yep and time for 'em to "sleep with the fishes" perhaps ?!

*fiat lux et .. radix omnium malorum est cupiditas ...

[-] 1 points by SparkyJP (1646) from Westminster, MD 8 years ago

The Scam Wall Street Learned From the Mafia - By Matt Taibbi

Read more: http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620#ixzz1zI79PgVh

[-] 1 points by atki4564 (1259) from Lake Placid, FL 8 years ago

If you can't beat em, join em.

Starting a bank sounds like an impossible Gilded Age enterprise; more befitting of a Rockefeller than today's small business owner. But it's not as impossible as one might think -- or as risky.

According to Smart Money.com, "the three-year failure rate for new banks is less than one in 1,000," which, compared with a "60 percent failure rate for new restaurants," is not so horrible. The profits are not too shabby either. The site reports: "6,770 community banks earned $67 billion over the past five years."

In a recent Wall Street Journal interview, even Former Federal Reserve Chairman Alan Greenspan says that he would start a bank -- if he were 50 years younger.

So start a direct democracy bank, as follows: