Streams

A Wall Street Trader’s Tale of Excess

Wednesday, June 26, 2013

Former Galleon Group trader Turney Duff, describes getting caught up in an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. His memoir The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess shows the rewards and temptations of making a living as a trader.

Guests:

Turney Duff

Comments [14]

Alex from NYC

Thanks for calling it, Lucia, Lee, and A.M. The three of you really have the number of both guest and host. Lucia, you really nailed it. The behavior of both Capehart and Duff is mystifying and inexcusable, though in largely different ways. How did this person get on Lopate?

Jun. 27 2013 10:38 AM
Lucia from West Village

Jonathan, wow. This is top level jock-sniffing. I can't believe how in awe you are of this man. Leonard would have been much more skeptical and probing.

Mr. Capehart, you are better than this and you did Leonard and his fans a disservice with such a grovelling interview. Thanks at least for ending on a semi-humane note.

And no, cocaine is NOT all over Wall Street and it CAN be avoided. Turney could have sidestepped it.
Just glad that the addiction took only his brain and not his life.

Jun. 27 2013 01:35 AM
Lee from Boston

A.M., you nailed it bro.

Jun. 26 2013 10:11 PM
A.M. from Tribeca

What we're listening to here, from both host and guest, is an absolutely disgusting sensationalization of depraved acts and mindset. The guest's subtext, under the tepid and painfully disingenuous "self-criticism," and "tak[ing] responsibility" (Puh-lease!) is: I had such power and status that I and the people I helped to power and corruption could use any human being at any hour of the day for nearly anything." How can ANYONE miss that? What is going on here?

Why doesn't the interviewer just get it over with and &*^^&(^ this guy?

Jun. 26 2013 01:55 PM
Ed from Larchmont

It seems to me that many addicts - who talk about this void and emptiness -can only fill it with God. Nothing else will satisfy, it seems to me.

Jun. 26 2013 01:33 PM
Chloe S. from Hastings on Hudson, NY

This is the most uninteresting show I have EVER listened to. Why are you bothering interviewing?? Why would anybody buy this guy's book?
DULL...

Jun. 26 2013 01:30 PM
henry from md

You are going to die one day like the rest of us, Turney, how are you going to leave the world? Do you think your "Tell All" book is sufficiently redeeming or just another slick move in your game of life?

Jun. 26 2013 01:26 PM
Teresa from New York, NY

Is this guy serious... his parents taught him integrity?! Clearly, he didn't learn that lesson. And I'm sick and tired of people saying "I take full responsibility" for transgressions... what exactly does that mean? Write a book in an attempt to make more money by divulging a tell-all about your illegal activity on Wall Street. Just in case this guy is wondering, you are disingenuous.

Jun. 26 2013 01:25 PM
John A

Did he actually say 10 hour days? High pressure jobs don't begin below 13 hours.

Jun. 26 2013 01:23 PM
Orla from Manhattan

I hope this guy's uncle is dead. Otherwise his nephew--clearly a selfish, user--has repaid his kindness by burning all the uncle's Wall St. pals with his tell-all book. I've little respect for Wall St., but less for a nephew without enough loyalty to his uncle to appreciate getting on a plate a highly lucrative job he would otherwise never have had.

Jun. 26 2013 01:17 PM
fuva from harlemworld

Climbing the socioeconomic ladder has always been and is still too much a function of social networks. It's how excluded groups stay excluded.

Jun. 26 2013 01:15 PM
Joe from nearby

Want a good laugh? Watch the video in this link, where John Oliver of the Late Show skewers Wall Street, bankers & the ratings agencies:

http://videocafe.crooksandliars.com/heather/daily-show-you-cant-ram-banking-regulation
("The Daily Show: You Can't Jam Banking Regulation Down a Country's Throat;
By Heather")

Jun. 26 2013 12:27 PM
Joe Mirsky from Pompton Lakes NJ

From my book, Ornamentally Incorrect

Gearing Up for the Next Crash

Since the start of the Great Recession, there has been a spike in Wall Street traders getting testosterone replacement therapy. 90% are in their 30’s or 40’s according to a doctor who gives the treatments.

Regaining your inner Gordon Gekko is the goal. “If you’re going to be trading on Wall Street or dealing with large sums of money, you had better be confident. The man who is wishy-washy is not going to be successful,” he said.

Jun. 26 2013 11:04 AM
Susan

How the New York Stock Exchange REALLY Works

http://www.lewrockwell.com/blog/lewrw/archives/33424.html

"The story is told that after he had been deported to Italy, Lucky Luciano granted an interview in which he described a visit to the floor of the New York Stock Exchange. When the operations of floor specialists had been explained to him, he said, 'A terrible thing happened. I realized I'd joined the wrong mob'"

Jun. 26 2013 06:35 AM

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