Why Wall Street Isn't Main Street

The American Thinker ^ | November 12, 2009 | Jeffrey R. Carter

[Scanian]

The Obama administration has taken great pains to blame Wall Street for the woes of the financial system. Representative Barney Frank and Senator Chris Dodd have held numerous hearings, pointing fingers at greedy capitalists and unchecked, unregulated risk-taking. What they should be doing is pointing their fingers at the American financial regulatory system that the committees oversee.

The rules of the game need to be changed so that the playing field is actually competitive. Structures need to be altered, and regulations written, so actual risk is being assumed or transferred when money is invested. Goldman now makes millions of dollars a day. It's the American way to make a profit. However, those outsize gains are obtained through anti-competitive measures. The major investment banks have created an oligopoly. The average investor, customer, or smaller fund doesn't stand a chance.

[SkyPilot]

The average investor, customer, or smaller fund doesn't stand a chance.

You bet.

Those AmeriTrade baby ads sure are cute, and clever. But if you are still going on-line buying stocks and gambling with a chunk of your income, you have as much sense as a real 1 year old.

[Rocky]

"Try reading the rule book, Shankopotomus."

[Uncle Ike]

” Structures need to be altered, and regulations written, so actual risk is being assumed or transferred when money is invested “

The New American Way is the elimination of all risk in all areas at all times...

Unhealthy, unsustainable, and dangerous, yes - but that’s what the Left demands and promises....

[Son House]

Democratics ruin main street as their cronies manipulate markets

[Neidermeyer]

Everything in the article hits the mark 100% and should be implemented.

[wastoute]

These politicians are bloated cess pits of hypocritical indignation. They gloat over "having to do something to fix this mess" but refuse to even begin to ackowledge that it is a mess THEY HAVE CREATED. What's more the folks they are demonizing are in bed with them and the "fix" is going to make them have to compete even less. It really is time to put an end to this nightmare.

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