A Quote by Sallie Krawcheck
Facts are that the financial advisers on Wall Street today or anywhere depending on which firm, what point in time - 85 to 88 percent male, and that is part of why investing for women they tell us feels unapproachable because they don't see people who look like them.
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The industry financial advisers, on average about 85% male, tends to be a more mature financial adviser - so I think in their 50s, really. For so many companies, in their 60s. In fact, there is one company that was telling me they had more financial advisers over the age of 80 than under the age of 30.
The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That's one reason why you get so many credit card offers.
The whole financial structure of Wall Street seems to rise or fall on the mere fact that the Federal Reserve Bank raises or lowers the amount of interest. Any business that can't survive a one percent change must be skating on thin ice.
Why even the poor farmer took a raise of another ten percent just to get a loan from the bank, and nobody from the government paid any attention. But you let Wall Street have a nightmare and the whole country has to help to get them back into bed again.
If you can be sure of being right only 55 percent of the time, you can go down to Wall Street and make a million dollars a day. If you can't be sure of being right even 55 percent of the time, why should you tell other people they are wrong?
I heard governor Romney here called me an economic lightweight because I wasn't a Wall Street financier like he was. Do you really believe this country wants to elect a Wall Street financier as the president of the United States? Do you think that's the experience that we need? Someone who's going to take and look after as he did his friends on Wall Street and bail them out at the expense of Main Street America.
Yes, 85 percent of the art you see isn't any good. But everyone has a different opinion about which 85 percent is bad. That in turn creates fantastically unstable interplay and argument.
That Wall Street has gone down because of this is justice ... They built a castle to rip people off. Not once in all these years have I come across a person inside a big Wall Street firm who was having a crisis of conscience.
You can see the most beautiful things from the observation deck of the Empire State Building. I read somewhere that people on the street are supposed to look like ants, but that's not true. They look like little people. And the cars look like little cars. And even the buildings look little. It's like New York is a miniature replica of New York, which is nice, because you can see what it's really like, instead of how it feels when you're in the middle of it.
People assume Wall Street is a certain culture and tech is a certain culture. But if you look at the (gender) numbers at the top of (those) industries, they don't vary very much. I think in finance, women hold 19 percent of the top jobs, and women are 21 percent of the leaders in nonprofits.
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.
I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
As a society, we have this perception that women are emotional. The research, however, tells us that, on trading floors, that poor risk rises and falls with testosterone levels, and these trading floors are 85 percent, 90 percent male, and these gentlemen tend, under periods of stress, to show off for each other. That's dangerous.
Every time I meet the CEO of a record label I tell them how they did it in the seventies because they want to know. I tell them, "Sign a hundred people! Throw it against the wall and see which ones stick!" And they frown and say, "Oh, we can't do that!" and they start mumbling about demographics and this and that.
Even today . . . experts, usually male, tell women how to be mothers and warn them that they should not have children if they have any intention of leaving their side in their early years. . . . Children don't need parents' full-time attendance or attention at any stage of their development. Many people will help take care of their needs, depending on who their parents are and how they chose to fulfill their roles.
Trends suck you in, anywhere in the world, patterns you don't even see. It's so easy. Look at Wall Street - look at any sports team in the world - there are trends. Look at exercising. Nothing but patterns and trends, and that's what I started to see. Like a flock of birds all flying in one direction.
Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years.
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