What is the “Occupy Wall Street” movement angry about? Our $0.02
1. Massive organized fraud is committed by Wall Street firms with respect to the subprime mortgage market.
2. Despite knowing the risks of the collateral they were creating, most of these firms ran into serious trouble, and asked for a bailout. Almost all got it.
3. The Finance lobby played an enormous role in writing the new regulations designed to prevent this sort of blow up again (Frank-Dodd). These regulations have gone from reasonable to neutered.
4. The heads of many banks are incredulously disdainful of those who suggest that banks should be subject to more scrutiny and cap requirements.

The current economic morass we find ourselves in is the penance we are forced to serve for the felonies these individuals committed, and the incompetence they exhibited in managing the subsequent risks. If this doesn’t make you outraged, nothing will.


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