The Case Against Wall Street
Conventional wisdom says that Wall Street helped build America. But what if the role of Wall Street has changed in recent times. That is the argument that financial columnist Bob Veres makes in a recent article entitled, The Case Against Wall Street.
In this excellently written article, Bob takes on the role of a prosecutor trying to convince an imaginary jury that Wall Street has become a drag on the American economy and consumers. Bob argues that Wall Street has been artificially inter positioning itself between those who have capital and those who need it and charging ever increasing and unnecessary tolls along the way.
Bob provides a convincing argument that Wall Street has been able to maintain this “cartel” by unduly influencing regulators and lawmakers through its outsize political contributions and a relationship that has become too cozy with the regulators.
On the program this week, I start the program with a quick summary of 2015 and then move into a review and comments about Bob’s article.
Here is the show from this week. I hope you enjoy it.
Thank you to Justin Siddhu, my great producer for an awesome year. And of course, thank you to all of my listeners over the years who make it all worthwhile. I hope that all of you enjoy a healthy and prosperous 2016!