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Why not really fix Wall Street???

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  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Wall Street is criticized but yet nobody wants to do anything about it. There are mumbling and rumblings and grumblings but nothing progressive is done about the none productive performance of Wall Street. Almost every citizen will tell you that Wall Street is the support of US industry when in fact nothing could be further from reality. Why do people that are doing good not understand they could be doing better if the US financial system would support US business. The US financial system is more involved in using money to create an unearned income reality. That is an event based system rather than making money from an institutional system of making products to sell. It is not in the national interest to let the product producing system that is self supporting languish in favor of a system that constantly requires new money for sustainability -.
  • Center Left
    Independent
    Central, FL
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    We have a few on this site who don't post often but have much expertise on financial matters. I hope they'll contribute.
  • Democrat
    Hot Springs Village, AR
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    Congress tried with Dodd/Frank. It was minimal at best but whatever moves in the right direction are in danger of being rolled back. We must be aware that those 535 so-called legislators are, for the most part, acting on behalf of the plutocrats, not the common man.

    If there was any logic to the system, every state would have a state bank ala N Dakota and much of our big banking system would be nationalized. As it is now the greed factor runs rampant in our banking system.

  • Liberal
    Independent
    Durham, NH
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    Because Wall St is a major part of the "shadow government" that really decides what Congress and the President actually do, that's why.
  • Independent
    Ft.myers, FL
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    This subject does not make any sense anymore; Bernie wanted to tackle Wallstreet, but we've got exactly the opposite. Especially the appointments of these "billionaires" by Trump will make sure the "rich" get more than 15% reduction in their taxes, while the deficit blooms. Guess what who will pay for all this fun???? Forget it Trump voters, you will only get to keep your stupid signs and your trailer will be in foreclosure.
  • Independent
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    the creation of 401k's, originally for executives, shifted wall street even father along the path of becoming a casino. the purpose of the stock exchange was to generate capital for companies by selling shares in them. instead we now have a casino where the banks generate massive fees by ipo's and leveraged buyouts as well as so-called restructuring experts that actually destroy companies as opposed to saving them. add in the fact that companies shifted to 401k's for everyone instead of defined pensions and the rise of banks and pseudo-banks "managing" your "portfolio" (as though they know anything about it) and this is what you get. it is financialized capitalism. we can no more reform it then we can stop the sun from rising. everything in the real economy is tied to it.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Since there seems to be a consensus that the casino financial system exists then it should be realized that it is a fee based and not self supporting system. That means a huge "correction" collapse is imminently inevitable. The salvation is the cultivation of a charismatic Democratic personality chanting "Peace Prosperity Full Employment". A huge correction is inevitable and it is counted on by the group that will go in at the bottom and buy the rest of the assets. A counter part to Trump has to be the focus of the Democratic Party. The DNC needs to see the future and not reward the party hierarchy but select a standard bearer against Wall Street. I made it through this entire post not mentioning how the CFMA has to be destroyed.

  • Independent
    Ft.myers, FL
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    Chet Ruminski Wrote:

    Since there seems to be a consensus that the casino financial system exists then it should be realized that it is a fee based and not self supporting system. That means a huge "correction" collapse is imminently inevitable. The salvation is the cultivation of a charismatic Democratic personality chanting "Peace Prosperity Full Employment". A huge correction is inevitable and it is counted on by the group that will go in at the bottom and buy the rest of the assets. A counter part to Trump has to be the focus of the Democratic Party. The DNC needs to see the future and not reward the party hierarchy but select a standard bearer against Wall Street. I made it through this entire post not mentioning how the CFMA has to be destroyed.

    Chet, forget it; the damage has been done and irreversible; the Wall Street boys are now firm in the saddle and won't loose an penny themselves, let alone pay any taxes if they follow the Trump "model". We are barely allowed to breathe, except "coal dust" and "school buses smoke" that is all we get from Trump. Certainly not gold plated trailers or jobs with clean air.

    The other joke is the "Carrier" deal. Carrier is part of United Technologies; thus as an trade off the Trump government will promise to buy more items from U.T. such as aircraft engines etc. However G.E. has the most of that market. Also the Trump 757 has Rolls Royce (British) engines; thus he undercuts his own policies. The State of Indiana (via Pence) offered incentives by pumping in lots of money so Trump could score. An huge joke; Carrier probably will raise their prices on the airco's sold here in order to get the same benefits/margins if they would have produced these in Mexico.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Dutch, There is every reason in the world to not forget it. "Destroy CFMA Reward Jobs" is intuitively, logically, objectively and transparently defensible. Starting with Warren Buffet there is documented warnings about derivative trading. If "Destroy CFMA Reward Jobs" is repeated enough somebody will have to talk about it. Nobody can defend the CFMA. Nobody can denounce rewarding jobs. When it becomes understood that trillions of dollars are being diverted from making jobs there will be a WTF moment when the every day every person will want an explanation why the CFMA is even allowed to exist. Don't "forget it" , talk about it all the time.