Monday, January 22, 2018
The crookedness of Wall Street is in my opinion an overrated phenomenon. The hearts of Wall Street men are not more or less black than the hearts of the men in the sausage-cover game. There is probably the same percentage of malpractice, but the Wall Street depredations are more spectacular. The involve vastly greater sums, and they make more interesting reading. Best of all, they suggest to the public an excuse for the public's own folly.
The indignation school of writers never tires of pointing out the millions that are stolen in the Street. But while the millions are being stolen, the billions are being lost. Nothing crooked—just bad luck and bad brains met together in an effort to do something that couldn’t be done in the first place.
-Fred Schwed, Jr., Where Are the Customer's Yachts? or A Good Hard Look at Wall Street