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Comment by carmelo7 | Hacker News Reader

Please cite specific examples of common deceptive practices (not just anomolies) if you're claiming that Wall Street fully practices deception on a daily basis. To claim that they do so is just absurd. Taking a populist opinion without understanding specifically how the banking industry works, and what it can and can't legally do, just wreaks of the Dunning-Kruger effect.

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It's simply impossible that you've been following the politics/economics/finance for any longer than a week and you haven't heard of stuff like Dual-Track or Robosigning or document fraud (especially allonges).

What's the point? You can google for yourself.

If I bring up examples they will be flawed because they are populist and because I don't understand banking as well as you do.

The banking system is flawless but you have to be a banker to understand this.

Well, if you cite specific examples about what you're referring to that's from a factual and objective source (since there could be thousands of different viewpoints), I would know your premise. Simply calling a whole industry as engaging in deceptive practices as a common occurence -- and freely accepted among those in the industry -- is unfair, absolutely untrue, and does nothing to help the financial system become more effective for society at large.

I didn't call out the whole industry as engaging in deceptive practices as a common occurrence. I do however think there is some deception occurring and that if it isn't uncovered and corrected, it will grow.

You did however did claim that any hint of deception would destroy their business and that therefore deception is not happening.

I think your claim is absurd and does nothing to help the financial system become more effective for society at large.

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