: New: Book Report: Liar's Poker

When Hillary Clinton took Wall Street money and passed laws to help Wall Street companies, was that so bad? Read this book for the practical jokes but also to remember Wall Street's outrages. Liar's Poker tells funny anecdotes about bond salesmen bullying each other and their customers. It also reminds us how Wall Street harms America. Wall Street firms cheat customers and buy each other up. If a firm doesn't cheat its customers, it's soon be acquired by one that does.

It doesn't have to be this way. The book's author was in a foreign office of Salomon Brothers. He couldn't get customers: in that country, there were more financial firms; unlike Americans, those folks had choices. ("Too big to fail," apparently, implies "too big to leave room for competitors".)

Tags: book business

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