The Phaserl


The Wall Street Second-Chances Rule: Scandal Makes the Rich Grow Stronger

from Common Dreams:

Wall Street is a place where memories are short, profit is amoral, and money is the only thing that settles all the scores.

That’s why financiers and CEOs are largely destined to overcome any scandal. Money and influence reserve a permanent place at the trough of money. It’s usually absurd to hope that any kind of setback – a loss, a bankruptcy, a harrowing proximity to eight insider-trading convictions – will leave a mark. They never do. Disgrace is not a functional term in a business that is still, at its core, based upon relationships with a closed circle of people.

For the powerful movers of money in this country, second acts are not the exception – they are very much the rule.

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