Is Wall Street Fair? Not sure its supposed to be?
Bloomberg TV ran a segment on cheaters - who cheats, why people cheat and how to get them to stop cheating. I was lucky enough to be part of that discussion, which included Dan Ariely, a behavioral economist from Duke who's been reaching this topic for quiet some time. The discussion quickly moved to whether or not markets are fair - a word that I think has little place in this discussion. Rules and regulations should certainly make a level playing field, and those who break the rules should not be allowed to play. But being penalized for being smarter, or faster or richer isn't what a free market system is about.
Please watch the segment below or click here and let us know what you think.
