Monday, February 02, 2009

Recession? O'Connell Says in MALLORY'S ORACLE:

Can't put the book back on the shelf without sharing this from Carol O'Connell's first book, MALLORY'S ORACLE (1994):

"How does insider trading impact on society?"
"It's potentially devastating," said Gaynor. "In the worst possible scenario, Wall Street loses the trust of the investors. Who wants to risk their savings in a rigged game? Think of the small investors who suffer the most when they're cheated. Investments fall off across the board, from mutual funds to city bonds and blue-chip stock. Then the market collapses, and we all line up with a bowl at the local soup kitchen. That pack of thieves in the 1980 scandal shook a lot of people's faith. The soup kitchen was a near thing."

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