{"id":190002,"date":"2010-01-16T21:09:00","date_gmt":"2010-01-17T02:09:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/16\/quote-of-the-day-252\/"},"modified":"2010-01-16T21:09:00","modified_gmt":"2010-01-17T02:09:00","slug":"quote-of-the-day-252","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/16\/quote-of-the-day-252\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<p>It&#8217;s from the &#8220;about&#8221; section of a blog called <a href=\"http:\/\/paul.kedrosky.com\/about\/\">Paul Kedrosky&#8217;s Infectious Greed<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Even further back in time, Dr. Kedrosky was one of the first technology equity analysts at a major brokerage firm. Back before there were such things as credit default swaps, collateralized debt obligations, and subprime mortgages, we vandalism-loving greed-heads on Wall Street were forced to take down capitalism the hard way &#8212; by selling over-valued technology companies to an unsuspecting public via initial public offerings. While it eventually worked out (c.f., the tech crash of 2000), the next generation of Wall Street-ers learned from our inefficiency and took down the global money grid in half the time it took us to mess up Nasdaq. Lesson learned.<\/p><\/blockquote>\n<p>Needless to say, I put him in my feed reader.<\/p>\n<p>H\/t <a href=\"http:\/\/www.ritholtz.com\/blog\/2010\/01\/greed-heads-taking-down-capitalism-the-hard-way\/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29\">The Big Picture<\/a> for the catch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s from the &#8220;about&#8221; section of a blog called Paul Kedrosky&#8217;s Infectious Greed: Even further back in time, Dr. Kedrosky was one of the first technology equity analysts at a major brokerage firm. Back before there were such things as credit default swaps, collateralized debt obligations, and subprime mortgages, we vandalism-loving greed-heads on Wall Street &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,1002],"tags":[],"class_list":["post-190002","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-good-writing"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190002"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=190002"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190002\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}