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WHAT HAS CHANGED ON WALL STREET?
Courtesy of The Pragmatic Capitalist
I’ve attached a great interview here with former investment banker and author of “House of Cards”, William Cohan. He explains how nothing has really changed on Wall Street despite the near collapse of the U.S. economy. The U.S. taxpayers have shelled out trillions in rescue funds and what do we have to show for it? The rules haven’t changed, the regulations haven’t changed, the bankers will pay back their TARP funds and incentivize eachother to take massive risks, etc. We can push through a $700B waste of money in a night, but we can’t pass a few laws that might help ensure that this never happens again?
Interesting outlook here:
