1. Upside

    Corzine Saga Another Blow to Wall Street

    HOBOKEN, NJ - NOVEMBER 02:  New Jersey Gov. Jon Corzine greets voters at the Path train station on November 2, 2009 in Hoboken, New Jersey. Corzine is running in a statistical dead heat with his Republican opponent former federal prosecutor Chris Christie. Many people are watching the New Jersey race as a referendum on Obama`s presidency as the president has made numerous visits to New Jersey to campaign on behalf of Corzine.  (Photo by Spencer Platt/Getty Images) *** Local Caption *** Jon Corzine

    Spencer Platt / Getty Images

    Good news for the anti-Wall Street crowd: reckless greed, it turns out, isn’t paying off. While many people view the Jon Corzine saga as further proof that bankers are cheating the system and winning, the Daily Beast’s Zachary Karabell says just the opposite is true. The bankruptcy of MF Global Holdings actually shows that taking insanely risky bets no longer results in blockbuster profits. “The choice is increasingly between foolish, deadly risk and a steady, unspectacular, and less lucrative future,” he writes, adding that “the battle between the protests and Wall Street isn’t heating up. Wall Street has lost.” 

    Read it at the Daily Beast