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Economics
Wall Street Feels The Public’s Backlash
Posted in: An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals that have rocked the U.S. financial sector, according to a Harris poll released on Thursday.
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As Karl Denninger points out banks can only create credit not wealth, nature and people create wealth. We live in an age of the quick rip-off because we have entrusted credit to near monopolistic corporations. Credit could just as easily be used for the social benefit if created and managed by truly responsible and representative government.