Wall Street at its finest...

Wall Street has been the common conversation holder over the past few weeks and it's beginning to become even more common as we, as a nation, continue to trudge through this recession. In the New York Times, I read a very interesting article titled "Wall St., a Financial Epithet, Stirs Outrage and Punch Lines" on Wall Street's financial situation giving many different perspectives along with great facts.

I loved how the journalist, David Segal, tied a persons personal story into the article to get the piece going. The article started off telling how Iris Chau, a 35-year-old woman worked at JPMorgan for 11 years before she was "let go". Segal opened up the article with this great story along with a great quote from Chau, saying the one thing she wouldn't miss about JPMorgan was telling people that she works there.

I found this part to be very intriguing because it is nice to hear someone give their honest opinion on a subject that is so important in our economy. I believe that her saying this really helped the readers to see a side of Wall Street that isn't so glamorous. When she said that, I was taken back, because people wouldn't typically be so bold when speaking in regards to a business or corporation held to such a high position in our society.

Continuing, this article really helped me to get a better understanding of what Wall Street is and what is taking place there during this trying time. We hear assumptions and stereotypes about Wall Street all the time, but to see inside it and hear individuals opinions and insights that work there was a whole new experience for me. It was this reality check that enabled me to see just how stingy some people are, especially at a time when our nation is at a catastrophic loss for funds.

Lastly, there was a part in the article that just shocked me. A chief executive for Merrill Lynch explained bonuses as a way to keep "your best people." This just completely left me in awe that branches such as Merril Lynch have lost so much money, continue to cut jobs, yet still make excuses and find a way to provide their "best people" with bonuses?! I guess this just shows how the world really work.