Speakeasy segregation November 29, 2012 at 8:54 am

From a lovely post by J. Brad Hicks (HT Naked Capitalism):

These days, only a few guys (other than old guys) bet on the ponies, but just about everybody bets on the stock market. You take your money to the stock market, and you want to bet it on a winning stock. But you have a job, and an ever-loving spouse, and chores around the house, and kids to try to ride herd on, so you know that, truth be told, you have no time to learn anything about picking winning stocks. So up to you comes this guy called a broker, and a broker is nothing but a tout for stocks, only maybe not so honest…

Go read the rest: it has a nice metaphor of Corzine as a depression era tout.

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