At The New Yorker, John Cassidy asks What Good is Wall Street?. An excerpt: In the upper reaches of Wall Street, talk of another financial crisis is dismissed as alarmism. Last fall, John Mack, to his credit, was one of the first Wall Street C.E.O.s to say publicly that his industry needed stricter regulation. Now that Morgan Stanley and Goldman Sachs, the last two remaining big independent Wall Street firms, have converted to bank holding companies, a legal switch that placed them under the regulatory authority of the Federal Reserve, Mack insists that proper supervision is in place.
Over at The Big Picture, Barry Ritholtz writes of Wall Street execs and politicians who keep blathering on and on about how the financial crisis was unforeseeable: We’ve Known for Thousands of Years We’ve known for literally thousan... Read Post
Map created with BatchGeo Today in Occupy Wall Street news: Looking for an event near you, or have an event we don't know about yet? Here's a list of over 200 Occupy Wall Street solidarity events around the country. David Dayen asks... Read Post