Battipaglia and Singer: Blunt Comments

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Sep 23, 2008 8:26 am

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An irreverent Wall Street Blog
by Bill Singer
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So, Bill, Tell Us How You Really Feel.
Written: September 23, 2008



Every so often, someone gets it right. This time, Forbes.com editor David Serchuk not only hit the nail on the head but drove the damn thing through the two-by-four and into the very heart of the matter. In his just published piece: Death of the Capital Markets, Serchuk asked some of the day's tough questions to a three-person industry panel of Lana Hock of Robert W. Baird & Co., Joe Battipaglia of Stifel Nicolaus, and yours truly (Bill Singer).  What emerged from the panel is a chilling assessment of what's wrong with Wall Street and why it may not get fixed.  This is not cheerleading. This is a sober warning.


For my part, I pulled no punches.  We no longer have time to dance around in this ring. When asked to comment on why we find ourselves in the president predicament, I answered with the candor that my readers have come to expect, if not demand:



We have misfits, clowns, incompetents and cronies in control of our regulatory power. We all feel disenfranchised.


I urge you all to read this superb analysis.  The URL is


http://www.forbes.com/business/2008/09/22/investment-bank-rescue-wallst-cxds_0922bailoutroundtable.html


Sep 26, 2008 12:51 pm

Wow.  We've been in a slow motion train wreck for a year now and the first time we hear from Cox all he does is point out the incredibly obvious.  Sounds like a gov't employee to me.

Sep 26, 2008 2:34 pm

Egg...ditto to your Government Employee. And the politicians and bureaucrats are going to oversee the " situation ". That will be after how many Commissions and Revues In Canada we call them Royal Inquiries....the Public call them Bull  and members are appointed based on being Political Hacks.

Sep 26, 2008 3:52 pm

"We got a Spitzer and a Bush"

 
First things that come to mind:  Hookers and coke.
 
Sep 26, 2008 3:53 pm

Bill....I agree that the best intentioned Manager/Leader can be absolutely stalled by the underlings that are not there to produce but rather work the system. Many leaders that have decided to pursue Government Careers coming form the Private Sector have resigned in disgust at the bureaucratic nonsense they find in Government Departs.