A Quote by Steven Levitt
You'd be a fool or a deluded idealist to think ethics would be prominent on Wall Street. That is not a statement against people in the money business, just a fact.
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What Wall Street is, they're market makers. Wall Street's business model is making money on velocity of money. They're a click industry. That's what Wall Street is. They make a lot of money when there's a lot of turnover. And they make a lot of money when that velocity is fast.
Wall Street owns the country. It is no longer a government of the people, for the people and by the people, but a government for Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master…Let the bloodhounds of money who have dogged us thus far beware.
Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.
I think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
They [the Reagan Administration] want to put street criminals in jail to make life safer for the business criminals. They're against street crime, providing that street isn't Wall Street.
People say child stars have a hard time 'because of the entertainment business,' but I think there's a dysfunction before all that. I use the analogy, 'If you're a fool without money, you'll be a fool with money.'
You can't manage Wall Street. Wall Street has its own viewpoints on everything. I have always believed, if you manage your business correctly, Wall Street will take care of itself.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
Let's talk about why, in the 1990s, Wall Street got deregulated. Did it have anything to do with the fact that Wall Street provided - spent billions of dollars on lobbying and campaign contributions? Well, some people might think, yeah, that had some influence.
Using the phrase business ethics might imply that the ethical rules and expectations are somehow different in business than in other contexts. There really is no such thing as business ethics. There is just ethics and the challenge for people in business and every other walk in life to acknowledge and live up to basic moral principles like honesty, respect, responsibility, fairness and caring.
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
When Occupy Wall Street happened, I took my money out of Citibank. I already had problems with all the banks - Citibank, Bank of America - but I was kind of just too lazy to take my money out until I saw how Citibank responded to Occupy Wall Street.
If there's anyone who's against Wall Street, it's Donald Trump, not Hillary Clinton, who basically lives off of the funding from Wall Street.
If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.
I think what the secretary Hillary Clinton has recognized is the American people are extremely angry about the power of Wall Street, the greed, the illegal behavior of Wall Street.
The bottom line is not money but some sort of demonic compulsion that drives these people to lash out against Jesus Christ, against Christians, and against anyone who holds to a sincere belief in God, in spite of the fact that it is going to cost them tens of millions of dollars to do it. They are driven to 'make a statement' regardless of the consequences.
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