Editor's Letter: A Simpler Time

REPORTS & BRIEFINGS

Let me start with an understatement: This period has been historic to say the least. Major investment firms that have existed for decades if not centuries will be a distant memory when the year is over. The idea of Wall Street as this all-knowing center of high finance has been shamed by bad decisions, poor judgment and willful ignorance. Just a few months ago, firms on the Street had a decent argument for easing some of the more restrictive measures like Sarbanes-Oxley and other tight

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