Money talks: A seismic shift on Wall Street
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 23 January 2018
⏱️ 16 minutes
🧾️ Download transcript
Summary
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hello I'm Simon Long the finance editor of the Economist. |
| 0:08.0 | Welcome to Money Talks. |
| 0:10.0 | Coming up on our program this week, |
| 0:12.0 | The Trouble with Mandatory Arbitration Coming up on our program this week, the trouble with mandatory arbitration when bosses behave badly. |
| 0:17.0 | The reason why this has come to light recently is because of the prevalence of workplace sexual harassment cases where people who want to speak out against |
| 0:26.0 | their employers are discovering in fact they must go into private arbitration. |
| 0:30.5 | And medicinal cannabis in Germany. |
| 0:33.0 | Cannabis is pretty expensive when purchased over the counter in a pharmacy. |
| 0:39.0 | It's about 24 euros a gram, which is well above double what it cost to buy it on a street corner |
| 0:45.8 | in an average German city. But first there's been a seismic shift in the |
| 0:51.7 | hegemony on Wall Street. |
| 0:53.7 | Morgan Stanley has overtaken Goldman Sachs, its arch rival, |
| 0:57.2 | in terms of market capitalization for the first time |
| 0:59.6 | in more than a decade, breaking through the $100 billion mark. So what's behind Morgan Stanley's recent success? |
| 1:07.9 | Tom Easton is our American Finance Editor and joins us on the line from New York. |
| 1:11.5 | Hello Tom. Hi use the word seismic is |
| 1:16.4 | is that over-regging it or is this really a big deal this change in the |
| 1:20.1 | leadership on Wall Street? Well I think it's important what it says about Goldman's approach to business, |
| 1:25.8 | and it's important about what it says about Morgan's families. |
| 1:29.2 | So in terms of Goldman's, its success was always based on it somehow being particularly clever. |
| 1:38.0 | And its cleverness has not been demonstrated as much in recent years as it has in the past. And that's brought a tremendous |
| 1:44.6 | amount of skepticism about its potential to perform. It's trying to change. It's trying to go from, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Economist, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Economist and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

