As I often do, I sat down Monday after lunch to watch a bit of CNBC. Like most retired or semi-retired people, I have an interest in how my retirement portfolio is doing.
What I saw was sickening. The talking heads, investment experts, commentators were going on and on in their rapid-fire style about how terrible it was that the New York Stock Exchange was shut down, how no one could trade any stocks. Horror beyond comprehension.
How awful it was that the investment community had to suffer because of this storm. They were like a bunch of kids who just had their toys taken away.
Next topic was great distress over the fact that those companies that were reporting quarterly or year-end numbers may not be able to do so if the Market stays closed through Wednesday. Tragedy beyond belief, according the Fast Money People. We can't trade these numbers and make money.
Finally a lingering discussion on how to "trade" the storm. What can you do in your portfolio to take advantage of all of the damage and mayhem this tragedy will cause. A full discourse on how to exploit your fellow man.
I was surprised there wasn't a Spider or ETF on the level of the Water on the trading floor.
As a long-time investor, I was sure Wall Street has no heart or soul, but I thought it at least had a brain. Apparently not.
It was, for me, a microcosm of what is really wrong with this Country. We are all just too damn ready to take advantage of each other. Too ready to exploit our neighbor, the guy down the street or the person up north we don't know.
Rarely have I seen avarice so publically displayed.
Wall Street and its greed were one of the major factors in the economic problems we now face in this Country, and they will likely be the cause of the next financial disaster.
There are going to be a lot of good people doing a lot of heroic and wonderful things over the next few weeks as those affected by Sandy recover. Some of them may actually work in the financial industry, but most of their peers will be "Trading the Storm.". \
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