Wall Street

Wall Street and Vegas

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Wall Street may be moving to Las Vegas, at least in spirit.

If you are invested in stocks and watching the markets you may be getting whip lash. One day up triple digits and next day down the same. Not for the faint of heart. And if you're watching financial news networks for guidance forget it.

One day pundits say Apple and Facebook are screaming buys. Next day they should sell. One day China's economy is crashing, next day comes a ray of hope. Global selloffs followed by global bounce backs. And it seems all those pundits pontificating with sage advice have poor memories, because they never seem to correct their mistakes on the air. Every day is a new opportunity to help you make or lose your money with no accountability.  read more »

Wall Street Reality Check

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Stocks rise and fall, businesses succeed and fail. How can you pick the winners?

A while back while waiting for a plane at San Francisco International Airport, a Silicon Valley Venture Capitalist recognized me as a business reporter, and approached me to offer an exclusive tip. In whispered tones he said the dirty little secret in the valley is that 90% of startups funded with venture capital fail. In mock shock I answered, is that all?

The fact is it's no secret. Want to make a small fortune investing in startups? Start with a large fortune. Want some more cynicism?  read more »

Bashing Capitalism for Votes

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I know Americans are as furious as I am that AIG would pay bonuses out of one hand, while the other hand is taking billions from the government. And those who made stupid mistakes should not be rewarded. Any who committed crimes should be prosecuted.

But this Wall Street bashing has gone too far. A lot of pandering politicians find it easier to blame Wall Street for bringing down capitalism, when it is capitalism that will save Wall Street.

First, it was the Obama Administration, its Treasury Secretary Tim Geithner, and democrat Senator Chris Dodd who first approved those bonuses, citing contractual obligations. But after the media showed its bright spotlight on the bonuses, the politicians ran for cover under the shade of a Washington tradition, the blame game.  read more »

Hitting bottom before bouncing back

The weak economy is hitting people hard, and some are not handling it well. Clinical and forensic psychologist Dr. Paul Good says that gambling was a factor in Wall Street’s downfall and folks on main street are also at risk. Dr. Good says that typically when gamblers have a big loss they throw more money into the pot and chase their loss.  read more »

Bailout giving gamblers chips on Wall Street

Clinical and Forensic Psychologist Dr. Paul Good talks about the government bailout just providing another opportunity for gamblers addicted to the action on Wall Street to "get more chips into the game". It is a scathing indictment of a financial system gone wild, and includes his own recommendation. You should never bail out family members who have a gambling problem. So neither should you bail out Wall Street workers who have a gambling problem.

Pathological Gambling on Wall Street

Dr. Paul Good, Clinical and Forensic Psychologist says “pathological gambling on Wall Street an epidemic.”