Monday, April 14, 2014

Wall Street killed the goose that laid golden eggs

If this story is correct,  the average American thinks the stock market is rigged and wants no part of it.  So, trading volume at the New York Stock Exchange is at a fifteen-year low.
The slump in trading volume is so pronounced that the big investment banks have had to resort to multiple rounds of deep layoffs, resulting in tens of thousands of investment bankers losing their jobs.
Effective regulation is what makes the market work; but few people in politics and even fewer on Wall Street want to concede that the government has a role in sustaining the market.