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The Screwed Election: Wall Street Can't Lose, and America Can't Win

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Everyone hates the big banks--except the two candidates running for president. Joel Kotkin on the bipartisan triumph of crony capitalism.

Everyone hates Wall Street.

About 2 in 3 Americans do not think what's good for Wall Street is good for America, but do think people who work there are less "honest and moral than other people," and don't "deserve to make the kind of money they earn." Confidence in banks is at a record low, according to Gallup, as they've suffered the steepest fall in esteem of any American institution over the past decade. And people have put their money where their mouth is, with $171 billion leaving the stock market last year alone...

yet, far from a populist attack on crony capitalism, Wall Street is sitting pretty, looking ahead to a presidential election that it can't possibly lose.

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