When Wall Street Rules, We Get Wall Street Rules

When Wall Street Rules, We Get Wall Street Rules By Dean Baker Co-Director of the Center for Economic and Policy Research The middle class is getting whacked by the Great Recession. Fifteen million people are out of work, another 9 million workers can only find part-time jobs, and millions more have given up looking for work altogether. Those lucky enough to be employed are unlikely to see any substantial wage gains for years to come. Millions of homeowners are facing the loss of their home and more [...]

5 Major Wall Street Problems the Current Finance Bill Won’t Fix

By Zach Carter President Barack Obama identified five major problems on Wall Street in his speech at Cooper Union today. Unfortunately, the solutions he has proposed to these problems either will not work, or are not included in the legislation that passed the Senate Banking Committee under the stewardship of Chris Dodd (D-CT). Here they are, one-by-one: Too Big To Fail Everybody agrees that too-big-to-fail is a major problem. Obama wants to end the era of big bank bailouts by establishing a new “resolution mechanism” that will [...]

By |2010-07-02T21:26:22-05:00July 2nd, 2010|Wall Street|0 Comments
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