For the last 20 years plus I’ve been amazed by the vast conflicts of interest that exist on Wall Street and in the financial industry. My first wake-up call was watching my first investment firm implode because of its own internal conflicts and mismanagement of an IPO of a mortgage derivatives fund, brought to us by our new hot shot MBA CEO out of some Ivy League school. That one particular investment brought down a 100 year old firm, and lost our investors at least $50 million (this was when $50 million was a lot of money). The firm was blindsided by the upside potential of this mortgage related, derivatives based, algorithmic program that they felt was hedged in every way possible, and would earn the firm millions in fees over the years.

It was not…and in less than 9 months it brought the entire firm down. No one went to jail and no one was forced to take responsibility. Incredible.

About five years later I watched two of my company’s red hot IPO’s file for bankruptcy, both wit...