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Article: OUTLOOK: All change as Wall Street is made to pay for past excesses
- Article from:
- The Independent (London, England)
- Article date:
- October 5, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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INVESTMENT BANKING isn't fundamentally a disreputable business,
but you would be forgiven for thinking otherwise after the
revelations and allegations of the past year. No one goes onto Wall
Street or into the City except for the purpose of making oodles of
money as quickly as possible.
Most of us can at least pretend some public interest or social
purpose in what we do. In investment banking there can be no such
pretence, and although investment bankers perform a pivotal role at
the centre of the world's capital markets, wider public perceptions
of their trade have never been flattering. Right now they are at an
all time low as investigators and regulators struggle with the legacy
of the ...