You think I am just an angry, unemployed liberal venting out? Trust me, millions think like me. More will join after the scale of Wall Street excess and arrogance becomes public knowledge.
The Wall Street Journal says "Finance-Bill Proposal Worries Banks":
"A proposal gaining ground on Capitol Hill to force banks to spin off their derivatives-trading operations would represent a severe blow to one of Wall Street's most profitable businesses.
Banks took in about $20 billion in revenues in 2009 on trading of derivatives, according to industry estimates of the size of the market for financial contracts tied to other assets, such as oil or mortgages."
Oh gee...how can the government force the banks to let go of billions in profit in the name of regulation and financial safety? After all, Wall Street is above the law (it has always been that way).
Now if this does not get your attention, you would be happy to know that Wall Street has its blood brothers working in Washington to kill any financial regulation bill...some of those brothers are Republican senators and Congress people.
And thus the saga of Wall Street supremacy over Main Street continues.
