Don’t Blame The Traders: Thoughts of Suicide Up Sharply Among Traders On Wall Street
October 11, 2008 – 8:01 am
Don’t blame the traders.
They were only doing their job.
Wall Street needs to quickly set up the same type of accessible crisis centers for traders and brokers.
Thoughts of suicide are up! Big time.
Some traders have been giving serious thought about jumping out of windows or taking their lives in some other way.
This is a serious problem. No joke.
For two reasons:
- Many of these people are the ONLY ones who know who OWES what.
- Many of these people are the actual workhorses, the actual lifeblood of the Wall Street. Their absence on Friday from many of the trading desks contributed to the 1000+ point swing in the market.
The guys and gals on the floor of the stock exchanges have been blamed for the financial meltdown, most notably the so-called “evil short-sellers”.
The real, root cause is the hedge fund managers who are munting the credit default swap and complex tranches in the credit derivatives market.
