The End

The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.

Many claimed after 9-11 the world as we have known it has changed. It did for a while, and then most of the fear came from the Bush Administration, as they tried to instill fear in everyone to justify their actions. Now seven years later, we realize the world hasn't changed that much. Obama should put us back on the right track internationally and restored much of the U.S.'s tarnished image aboard.

The same goes for Wall Street. Many are claiming Wall Street has changed forever. It's seems like a plausible claim right now, but in the long run, Wall Street will not change. Jeremy Grantham was asked on October 13th would we would learn from this financial crisis. His answer, which I totally agree, "We will learn an enormous amount in the short term, quite a bit in the medium term, and absolutely nothing in the long term." Wait 7 to 10 years and Wall Street will be back to it's old self. It seems implausible right now, but that's the historical precedent.