Excerpt from The Machinery of Wall Street: Why It Exists, How It Works and What It Accomplishes
To most people the machinery of Wall Street seems intricate and mysterious. There is probably no part of the business activities of the country that is so much misunderstood.
The popular idea of Wall Street, picked up from miscellaneous sources, such as newspaper headlines, cartoons, magazine stories and moving pictures, seems to embrace a hodge-podge of corpulent, side-whiskered bankers surrounded by champagne bottles, haggard speculators bending feverishly over stock tickers, habitually risking their last dollar and generally losing it, Mephisto-like manipulators always determined to ruin each other or be ruined in the attempt, and child-like young gamblers whose touching confidence in human nature leads them to risk their widowed mothers' patrimonies in a single throw on any "tip" which may be offered them.
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