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Sincerely curious to know--when people say "wall street" what are they referring to? Is it retail banks? I-banks? Private equity? Hedge funds? VC? Mutual funds? Insurance? Prop trading firms? HFTs? Ratings agencies? Exchanges? REITs? It's a big street w/ lots of people on it! https://twitter.com/JStein_WaPo/status/1138967445505490944 …
It's fine if rhetoric of "wall street" just boils down to "I hate the finance people" but we should at least acknowledge that it's not a real policy position Part of what makes Warren so brilliant is that she has been clear from the get-go that her issue is with retail banking
I love Bernie but this has been a continual frustration of mine with his platform. I get that executive compensation is a moral outrage but at the end of the day that's not unique to finance and reforming it wouldn't de-risk the industry or improve American lives.
This is all just to say that what the layperson means by "the financial industry" is really like 10 distinct industries, each with their own constellations of risks and problems that require meaningful policy solutions
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