Lebanese-born American investment banker, financier, activist and author
Lebanese-born American investment banker, financier, activist and author
Born: December 3, 1960
Alternative Names:
Ziad K Abdelnour
From Wikidata (CC0)
There is nothing inherently evil in the process of making money,
and the notion is illogical, but that is one of the underlying tenets
in our present education system. We are taught from an early age
that making money is hard and that those who make lots of money
are morally suspect. American culture studies programs at some of
the nation’s leading universities have even gone so far as to teach the
absurd and illogical notion that the rich became rich because they
enjoy privilege earned on the backs of African slaves. Minority
millionaires like entrepreneur Herman Cain, Earl Graves, Sr., and
Reginald F. Lewis prove the utter nonsense of this notion, yet this
is the illogical Progressive philosophy that has permeated our education
system.
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I remain fundamentally optimistic about
Wall Street as a marketplace and as a vehicle for wealth creation. Its
future will rightly depend on several variables, chief among them
being human choices; whether they be rationally, emotionally, subjectively
or objectively made. Financial engineering taught us that if
it could be quantified, it could be qualified. We learned about how
to use leverage and have abused that knowledge for a myriad of
reasons. We became practitioners of the transaction-based model, but forgot that long before the abacus there was trust and integrity,
anchors of relationship-based models common with Middle East and
Asian markets. It goes back to a handshake, the first and enduring
example of mutual consensus.
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History clearly
shows that governments that have tried to contain, regulate, or otherwise
usurp capital have failed. It is the same with brainpower; no
one has a monopoly on brainpower. Controlling brainpower is like
herding cats. Brainpower creates capital, and capital fuels brainpower.
It is a fundamental dynamic principle. Great ideas, solutions, insights,
or inventions will develop only where they are nurtured and properly
rewarded.