Wednesday, May 20, 2015

New Study: WALL STREET IS AS GREEDY AND IMMORAL AS EVER. (Maybe worse)

http://www.addictinginfo.org/2015/05/19/wall-street-labaton-sucharow-study/

Seven years have passed since Wall Street crashed the world’s economy, and guess what? They’re as greedy and immoral as ever.
Sure, we get to cheer as our corporate kleptocracy hands us an occasional victory, yet these victories ring hollow as Wall Street banks get bigger and fatter and more profitable than ever.
Hooray! Standard and Poors settled with the U.S. government for helping cause the 2008 meltdown. Boo! They only paid a paltry $80 million to the Securities and Exchange Commission (SEC) and mumbled some vague not-apologies and “admissions of wrongdoing.” Hooray! Six big global banks paid $4.3 billion to regulators in the U.S., U.K., and Switzerland…But wait: That was after manipulating the foreign currency exchange for an entire six years. And the Foreign currency exhcnage is worth $5.3 trillion per day. What a joke.
Now, the New York Times reports on a new study that reveals some disturbing information about Wall Street and the financial industry.

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