Wall Street Got Drunk

[Lugnuts]

Wall Street got drunk, it got drunk, (it’s one of the reasons I asked you to turn off your tv cameras.) It got drunk and now it’s got a hangover. The question is how long will it sober up, and not try to do all these fancy financial instruments.

Can someone please explain to me what the statement in bold means?

 

[slappy4428]

It means the person who said it is dumber than toast and needs to move on -- now.

 

[Pastor]

Wall Street got drunk, it got drunk, (it’s one of the reasons I asked you to turn off your tv cameras.) It got drunk and now it’s got a hangover. The question is how long will it sober up, and not try to do all these fancy financial instruments.

Can someone please explain to me what the statement in bold means?

It means Fredo is back on the sauce.

 

[poindexter]

Without the snark, I think it means getting to back simpler ways of making money (I think he is speaking of the financial industry) - meaning less derivatives, CDOs, Level III assets and other financial hocu-spocus.

 

[Birdscribe]

Without the snark, I think it means getting to back simpler ways of making money (I think he is speaking of the financial industry) - meaning less derivatives, CDOs, Level III assets and other financial hocu-spocus.

Bingo.

And far be it for me to ever toss a bouquet Fredo's way, but for once, he's right. Wall Street DID get drunk with tricked-up devices that blew up in its face.

Of course, since everyone on Wall St. is trained to eat from a big spoon, this happens more often than it should and will happen in some other incarnation again.

 

[markvid]

It was obvious to almost everyone prior to Bush saying it (and at least for a year or so) that the market was way overvalued and this is a correction.

 

[poindexter]

Wall street has moved on to Fed-supplied heroin.