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Wall Street wants to party like it's 2007
#2
The 'protections' added after housing market crashed were nothing short of a few small bandaids on a major wound. For whatever the reasons were, no one on Wall Street outside of some investor in Florida went to prison for defrauding the public and causing the loss of over 5 trillion dollars. I know Senator Levin (D) blasted companies like Goldman Sachs in 2010 in senate hearings, but little came of it. In return, they got bailed out with taxpayer money and went along with their merry lives living in luxury, while millions lost homes, pensions, jobs etc.

In other words, not enough was done to prevent the system to fail again. 'Wall Street' will figure out ways to defraud the public by changing up names, legal language, etc. to still maximize their profits while misleading the consumer. And the funny thing is, some people think that Republicans are the only friends to Wall Street. They probably are friends as I am assuming trump is, but it is very true that the Clintons were very good friends with Goldman Sachs for example, and Obama as well, though not to Bill & Hillary's extent.

When the system fails again, it will be because primarily of those major Wall St. companies first off, while Democrats & Republicans both failed to prevent it.
“Don't give up. Don't ever give up.” - Jimmy V

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RE: Wall Street wants to party like it's 2007 - Millhouse - 05-15-2017, 02:30 PM

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