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When is selfishness good on Wall Street? Sports News
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When is selfishness good on Wall Street?


View Message Board ·  Return to StoryViews:      


When is selfishness good on Wall Street?
-
Reputation:93
Level:All-Star
Since:May 19, 2007

May 17, 2008 10:15 am
Just curious, what the title of his article refers to? "Sefishness is good go wall street?" Please explain that line someone. Doyle sure didn't.


When is selfishness good on Wall Street?
-
Reputation:96
Level:Superstar
Since:May 17, 2008

May 17, 2008 12:43 pm
I believe he is referring to the Gordon Gecko speach in the movie "Wall Stret" that contains the line "Greed, for lack of a better word, is good. Greed works." Its based on an Ivan Boskey speech given before he went to prison for securities violations.


When is selfishness good on Wall Street?
-
Reputation:74
Level:Pro
Since:May 17, 2008

May 17, 2008 1:09 pm
It is referring to the famous 1987 film "Wall Street", starring Michael Douglas (who won his only best actor Oscar for this role) as Gordon Gecko, a ruthless corporate raider and a (very young -- he was around 20) Charlie Sheen as Bud Fox, his protege. Specifically his speech to the Teldar Paper shareholders to try to get their votes to take over the company "I am not a destroyer of companies. I am a liberator of them! The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much."  The phrase "Greed is good" became one of the more quoted lines ever uttered in a film and a symbol of the 80's era of excess.  In fact, having worked on Wall Sreet, I can report it is still commonly used, for example, one trader will say to another "Hey, you've made plenty of money on that position so why not  just take your profits and relax", to which the reply often is "Hey man, Greed is good after all, so I think I'll just hold on to it a little while longer"

When is selfishness good on Wall Street?
-
Reputation:93
Level:All-Star
Since:May 19, 2007

May 17, 2008 5:48 pm
I'll buy that. However, greed and selfishness have two different meanings. Similar but different. Plus, how bout making a reference to the movie in your article. It was only 20 years ago.

When is selfishness good on Wall Street?
-
Reputation:82
Level:All-Star
Since:Nov 27, 2007

May 19, 2008 9:48 am
Hello.

Just wondering if you had gotten the reply to your question. Is so can you explain it to me? I i didn't get it either. By the way, without knowledge of basketball jargon and the details of the game, the article still kept me engaged.

When is selfishness good on Wall Street?
-
Reputation:99
Level:Superstar
Since:Dec 21, 2006

May 19, 2008 10:06 am

Mimisa,

It is great to see you are getting on the boards even though you don't have total understanding of basketball jargon. Keep up the great work and keep those posts coming.

Golf Guy


When is selfishness good on Wall Street?
-
Reputation:82
Level:All-Star
Since:Nov 27, 2007

May 19, 2008 10:25 am
Hey golf guy,
Yep. I am blown away by the verbiage in some of these posts!
What a nice shot of you. Pls share how I can change mine...
kewl, Mimisa