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Is Wall Street a Good Place to Invest?
Most of the capital that people invest even at a firm like blackrock, it's not black rock's money. And so you have a system where all the actors in the system are focused very narrowly on achieving the highest yield and profitability on their investments. They're very good at that, but they don't have a lot of leeway. In reality, what i saw, and i think is rampant across the economy, is that it's very often, very profitable to be irresponsible. As a result,what i saw first hand was that the system was changing little to nothing at all. We're actually starting to become a giant societal pocibo," he says.
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