SOURCE: John Thomas Financial

John Thomas Financial

September 29, 2010 10:53 ET

John Thomas Financial CEO, Thomas Belesis, Appears on Fox & Friends to Discuss Wall Street 2: Money Never Sleeps

NEW YORK, NY--(Marketwire - September 29, 2010) -  Thomas Belesis, CEO of John Thomas Financial, a full service broker-dealer offering client-centric retail brokerage and investment banking services, appeared on Fox & Friends on Monday to discuss the film's inspiration. Belesis was a technical advisor to the movie project and had a role in the movie.

Oliver Stone's sequel to the 1987 blockbuster opened as the #1 movie in America, sparking timely conversation about what caused the recent economic recession.

"The one thing to remember is it's not a documentary on Wall Street," explains Belesis.

"What it touches on is that a few of these banks... put crazy derivative products together that almost collapsed the greatest financial system of our time," he continues. "[Oliver Stone] villainizes those that should be villainized," referring to large banks that took great risks with their clients' money, including the now defunct Lehman Bros.

"The financial reform was necessary. You cannot give banks the ability to leverage conservative client assets. At the end of the day if you give all that leverage to people who are dangerous with it, we're going to have another disaster like we had."

The Fox & Friends segment is available for viewing on the John Thomas Financial YouTube Channel.

About John Thomas Financial
John Thomas Financial, member of the FINRA and SIPC, is an Independent Broker Dealer and Investment Banking firm headquartered in New York City's Wall Street district. Emphasizing a client-centric approach to managing all aspects of its business, the firm offers a full complement of retail brokerage and corporate advisory services tailored to the unique needs of its clients. For more information on the firm, please visit www.johnthomasbd.com.

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