The article published by Business Report called "Wall Street sees no exit from financial woes" might have made some sense if the banks had not been directly responsible for bringing down the financial system in 2008. Bankers, like Goldman Sachs, blame the government for "interference and persecution." But Mr. Banker, when you had the chance to "self-regulate," you blew it and brought down the financial system with your greed, your junk derivatives, your false ratings on securities and your selling those securities fraudulently to unsuspecting investors.
Why do banks have such a short memory?
If the banks feel persecuted by government then they should not even listen to the citizens who are occupying Wall Street who would really like to see a "perp walk" with Blankfein and Dimon leading the way. Banks, you created the "morass" yourselves, not the government and not the people.
Goldman Sachs deserves to lose at least as much as the homeowners have lost and as much as the pension funds to whom they sold MBSs.
The financial bubble was brought to us by the likes of Goldman Sachs. Cutting leverage at Goldman is a good thing.
"Societal objectives" include the citizens' desire to return to the Rule of Law and to do away with Rule By the Bank.
Is it the best that can be said about banks that they "will find ways to profiteer?" What an indictment of the banking system!
"Wall Street is suffering" the article says. If jobs are lost, it won't be at the top but the lesser financiers will just join the 9.1% unemployed that resulted from their bubble.
Wall Street has gotten away with the biggest fraud in recent history and rather than being "excessively blamed" has had no executive prosecuted and put in jail.
The banks continue to lobby against regulations.
We cannot sob for the young guys who have dreams of becoming millionaires. Young people, find a worthwhile dream that includes serving in and improving the community in which you live.
You can read the article here