The financial industry has officially hit bottom. I found convincing
proof last weekend at my neighborhood cineplex.
When an industry is the butt of big screen jokes by Will Farrell and an egg-shaped evil cartoon banker, it’s clear you can go no lower.
With financial regulation reform the next big thing coming out of Washington, I thought it would be fun to watch that oldie, but goodie — “Wall Street.” Great movie.
Michael Douglas as Wall Street raider Gordon Gekko delivered one of the classic lines of cinema history –“Greed, for the lack of a better word, is good. Greed is right. Greed works.”
Gekko’s doublespeak carried the day in that scene, but by the end of the movie good triumphed over evil.
Will the same be said when the current battle over financial reform ends?
Tennessee’s mens basketball team came tantalizing close this year to making its first trip to the Final Four.
But they did score a program first by landing a spot on Forbes.com list of the most valuable college basketball teams in the country.
The University of Tennessee Volunteers are No. 16 on the Forbes list, after not being ranked the year before. Forbes listed the value of the program at $14.1 million with a profit of $8.6 million.
Lehman Brothers report getting a lot of attention today.
From The Curious Capitalist: Should accounting tricks be added to the long list of things that caused the financial crisis?
From CNNMoney.com: Lehman report blames execs, auditor
From The Economic Times: How Lehman Brothers hid its woes as it collapsed.
Tennessee Republican Sen. Bob Corker and Democrat Chris Dodd, chairman of the Senate Banking Committee, are going head-to-head today as they spin their versions of what should be done to overhaul financial regulations.
Stay tuned. The spin fest is getting interesting.
Read more here and here.
Just for kicks play the dueling banjo video while reading the latest