7 Ways to Really Take the Ax to Wall Street
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But back then, I did cover my bets just a little. I had a feeling that we might live to see yet another crash because we would do far too little to end Wall Street’s rule:
Let’s hope we won’t throw away much of our children’s inheritance because we did not have the courage to do the obvious: Take over the failing major banks, dramatically trim their astronomical salaries, control their hazardous financial engineering and run the damn things for the good of us all…..
If, by the time you read these words we have avoided a full-scale depression, we should consider ourselves more fortunate than wise. Or as Bob Dylan lamented:
“An’ here I sit so patiently
Waiting to find out what price
You have to pay to get out of
Going through all these things twice.”
(And under the rules of real capitalism, it cost me $250 to use these lines from “Stuck Inside of Mobile with the Memphis Blues Again.”)
Les Leopold is the executive director of the Labor Institute and Public Health Institute in New York, and author of The Looting of America: How Wall Street's Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do About It (Chelsea Green, 2009).