Tag: Wall Street

A nationwide campaign, Take on Wall Street, is putting the people back at the table for a change.

Wall Street claims that the tax would burden small investors such as as retirees, business owners and average savers. Wrong.

Until the feds charge reckless bankers individually, they'll shake down shareholders to bail them out for misdeeds.

All of these ideas have been proffered by progressive financial reformers even as the Dodd-Frank financial reform law squeaked through Congress in 2010.

One more reason Wall Street bankers privately wink and grin at these seemingly huge punishments is that even paying the full $5 billion would only be relatively painful.

“As Greenwald said, Hillary’s the very model of the type of politician that the five Republicans on the U.S. Supreme Court were trying to empower. The suckers whose votes she gets are fooled merely by her labeling herself a ‘Democrat’ and slinging the type of bumper-sticker phrases that draw Democratic suckers instead of Republican ones.”

Wall Street Insiders who trade on confidential information unavailable to small investors don’t improve the productivity of financial markets. They just rig the game for themselves.

“Despite the evidence, many people still see these banks and the people who run them as respectable corporate citizens. In the words of that unnamed Goldman Sachs executive: If they only knew.”

The bottom line: Regulation won’t end the Street’s abuses. The Street has too much firepower. And because it continues to be a major source of campaign funding, no set of regulations will be tough enough.

When a high-rolling trader buys millions of dollars’ worth of stocks or derivatives, there’s no levy at all.