| A MUST READ -If anyone wishes to understand what is motivating the protesters, this article about the gutting of the Volcker regulations reveals the reality. The lobbyists for the banks and financial dealers on Wall St, are out in full force, to destroy any important regulation that could prevent a fiasco in the future. This bill was passed as a result of the financial crisis that took down the world, not just the US, -- as the banks inflated their profit line literally gambling with the savings of the people. "Regulators have faced a barrage of complaints from lawmakers and financial industry lobbyists in their 14-month-long quest to constrain risky trading on Wall Street" and now, arguing among themselves has given "Wall Street groups" have seized the opportunity "on what they see as a split among the agencies." They are busy demoting important important regulations to " questions." |
Read the rest of the story HERE:
At dealbook.nytimes.com
At dealbook.nytimes.com
