Wall Street

I know Americans are as furious as I am that AIG would pay bonuses out of one hand, while the other hand is taking billions from the government. And those who made stupid mistakes should not be rewarded. Any who committed crimes should be prosecuted.

But this Wall Street bashing has gone too far. A lot of pandering politicians find it easier to blame Wall Street for bringing down capitalism, when it is capitalism that will save Wall Street.

First, it was the Obama Administration, its Treasury Secretary Tim Geithner, and democrat Senator Chris Dodd who first approved those bonuses, citing contractual obligations. But after the media showed its bright spotlight on the bonuses, the politicians ran for cover under the shade of a Washington tradition, the blame game.  read more »

The weak economy is hitting people hard, and some are not handling it well. Clinical and forensic psychologist Dr. Paul Good says that gambling was a factor in Wall Street’s downfall and folks on main street are also at risk. Dr. Good says that typically when gamblers have a big loss they throw more money into the pot and chase their loss.  read more »

Clinical and Forensic Psychologist Dr. Paul Good talks about the government bailout just providing another opportunity for gamblers addicted to the action on Wall Street to "get more chips into the game". It is a scathing indictment of a financial system gone wild, and includes his own recommendation. You should never bail out family members who have a gambling problem. So neither should you bail out Wall Street workers who have a gambling problem.

Dr. Paul Good, Clinical and Forensic Psychologist says “pathological gambling on Wall Street an epidemic.”