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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Why Does Reputation Count for So Little on Wall Street? | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="6cJfxU8fb8"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/why-does-reputation-count-for-so-little-on-wall-street.html"&gt;Why Does Reputation Count for So Little on Wall Street?&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/why-does-reputation-count-for-so-little-on-wall-street.html/embed#?secret=6cJfxU8fb8" width="600" height="338" title="&#x201C;Why Does Reputation Count for So Little on Wall Street?&#x201D; &#x2014; naked capitalism" data-secret="6cJfxU8fb8" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>There is a very peculiar article by Steven Davidoff up at the New York Times: "As Wall St. Firms Grow, Their Reputations Are Dying." It asks a good question: why does reputation now matter for so little in the big end of the banking game? As we noted on the blog yesterday, a documentary team was struggling to find anyone who would go on camera and say positive things about Goldman, yet widespread public ire does not seem to have hurt its business an iota.  Some of Davidoff's observation are useful, but his article goes wide of the mark on much of its analysis of why Wall Street has become an open cesspool of looting and chicanery (as opposed to keeping the true nature of the predatory aspects of the business under wraps as much as possible).</description></oembed>

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