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You are visiting my site on: July 24, 2024

Greed is Good-right?

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During the almost 12 years I spent as an insurance regulator, I continued to hear the cry that there was “too much regulation taking place.” Limit the regulation, and let the free market work its magic. Well, the so-called “magic” has come to pass. As I wrote last week, not just on a national level, but right here in Louisiana. So regulators stood aside, and the element of Wall Street greed has taken over. $20 million annual cash bonuses. Sell sell sell, with little concern for the stability of the financial market. The mentality of Gordon Gekko, right out of the movie Wall Street, has apparently taken over the whole system. Remember Gekko’s words? “Greed is good.” You can hear the wisdom of this Wall Street philosopher below.

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