This document summarizes the unethical practices of Wall Street banks over 15 years involving tech stock ratings, mortgage securities, and the global financial crisis. It shows analysts pressuring others to rate losing tech stocks as "strong buys" for commissions. Later, risky mortgages were bundled and sold without proper due diligence to maximize profits. Credit default swaps were also sold despite knowing defaults were coming. The crisis resulted in bailouts benefiting the same banks, allowing more conservative banks to be acquired. Throughout, compliance and risk departments are ignored for the sake of profits.

1. A Fifteen Year History of Wall Street
by www.outsider-trading.com

2. Analyst Desk at a Major Wall Street Bank
We really need to
rate these tech
stocks a strong buy!

3. They don't seem to
make any money?

4. Our investment
bank makes a
killing taking
these bad boys
public, it's our job
to make sure
these things sell!

5. Isn't it against our
moral oath as CFA's to
recommend stocks that
are loosing money?

6. BHAHAHAHAHAHAHAHAHA
BHAHAHAHAHAHAHA

7. Brokerage Branch of same Wall Street Bank
Our firm rates these
tech stocks a strong
buy, we need to get
on the horn and sell
these bad boys......
there's also a 15%
commission!!!!

8. Yes?

9. These tech stocks don't seem to
be making any money though??

10. It's a new economy...
earnings are prehistoric

11. Isn't it against our code as
series 7 to worry about
commissions?? We are
supposed to put our clients
interest before our own...

12. BHAHAHAHAHAHAHAHAHAHAHA
BHAHAHAHAHAHAHA

13. Client Meeting Inside Same Brokerage
Are you sure about
homegrocer.com? It's
loosing money... what
about valuations??

14. It's a new economy... you won't
be worrying about valuations
when you're buying a yacht!!

15. Let's do it!!

16. I love the smell of commissions in the morning!!

17. Fat-Cat Boardroom at same Wall Street Bank
Well... those
tech stocks
didn't work
out so hot.

18. It was a bubble...
investors should've
known better

19. Now we have a
real opportunity
to sell bundles
of mortgages

20. Real Estate has
done nothing but
go up... and many
of these mortgages
seem to have weak
credit quality??

21. We need to sell
them to get 'em
off our books!
Plus, we make a
ridiculous profit
for packaging
them up, it's a
win-win... for us!!

22. Don't we have a
moral obligation to
look out for all the
stakeholders?

23. BHAHAHA
BHAHAHAHAHAHAHAHAHA

24. Institutional Sales Desk - same Wall Street Bank
Are you sure about
the credit quality
on these mortgage
securities?

25. Of course, these
things are solid!!

26. Look, we know these
things are going to
default... that's why
buying our credit default
swaps is a no-brainer!

27. Same Fat-Cat Boardroom
(several years later)
Well, that didn't
work out so hot...

28. The good news is we
have been giving
money to both parties...
so this bail-out thing is
virtually guaranteed!!

29. Hey, didn't the treasury
secretary used to work here?

30. Yeah, and the Fed
Chairman too

31. Look guys... this is
going to workout just
fine! Our actions will
put most of the small
banks out of business

32. Yeah... and the
ones that are left
must be really
conservative and
have great assets!!

33. EXACTLY! Now
we have our
takeover targets

34. BHAHAHAHAHAHAHAHA

35. The End