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URL:  http://boards.fool.com/1-first-that-women-on-wall-street-have-no-power-30305396.aspx

Subject:  Re: Countdown to the next financial bomb Date:  10/7/2012  2:14 PM
Author:  Goofyhoofy Number:  405490 of 479797

1. First, that women on Wall Street have no power is irrelevant. I trust the studies which show that men (as a group) overestimate their ability to judge risk, and that women (as a group) swagger less, but so what? What gets you to the top in that field is making outsize bets and being right. If/when women get to a position of power, they are likely to be not reflective of the meme, and will be those who also take outsized risks and thereby have outsized success. For a while.

It's the culture of the street, not the predilection of one sex or another, that puts so much risk at risk.

2. There will be more failures, and they may be catastrophic. How catastrophic is the question. The disaster at JPM didn't bring down the entire global system, nor did the one at MF Global. It is only those that happen at a