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What NBC Can Learn from Wall Street Hubris

July 31st, 2012 · No Comments

http://www.marketplace.org/topics/business/easy-street/what-nbc-can-learn-wall-street-hubris

If there’s one thing Wall Street knows how to do, it’s take an issue of minor irritation and turn it into an uncontrollable, national disaster through the alchemy of arrogance, hubris, and too much money.

That’s how your annoying bank fees blossomed into Occupy Wall Street, how the London Whale grew from a misguided trade at JP Morgan into a reportedly $7 billion loss, and how the securitization of mortgages turned into a global subprime crisis. When challenged by opposing forces, Wall Street just won’t listen. The Street has favored the Mad Men model of largely swilling martinis and hoping for the good old days to return.

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