Yesterday morning was another low point for capitalism. I woke up in San Francisco and unfortunately flipped past CNBC. Our YUTZ president was talking about the depression and there was a section of the TV sliced out for the Bernie Madoff ‘Penthouse’ stakeout. At the bottom of the screen a ticker runs that means noting anymore as it spits out compter generated trades of ETF’s. Some talking head was likely droning on in the background about his returns and the economy.
I barfed and than cried just a little.
That snippet of ‘Business’ television pretty much sums up how soulless Wall Street has become.
Despite the horrific carnage to date, the pain is not over as pension funds and retirement funds have been gutted and the trust stolen from American investors.
The good news is that things are going to change. It is almost impossible for government policies or elected officials to remain as dumb as they have been. Point in fact, Fred Wilson is smiling about our new FCC Chairman who supposedly uses the internet and quite possibly, loves this blog .
America is about real people with heart, who are positive, like chipping in and love building communities.
One of the sweet benefits of Stocktwits has been the amazing flow of real time ideas from traders all over the world. Whether the ideas are generated from computers or long hours of research, they are delivered by the actual investor. The ‘Human Ticker’ is back courtesy of the great community at Stocktwits. I look forward to CNBC trying to take credit for it.