Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: Weekend Economists Celebrate September 13-15, 2013 [View all]Demeter
(85,373 posts)51. IN CONCLUSION: 5 years after Lehman, Americans still angry at Wall Street--POLL
http://news.yahoo.com/five-years-lehman-americans-still-angry-wall-st-110205260--sector.html
A few years ago, Larry Summers, then the director of President Barack Obama's National Economic Council, held a private meeting with some of Wall Street's top bankers and executives. Although the worst of the financial crisis was over by then, Summers - now seen as a candidate to be the next chairman of the U.S. Federal Reserve - chastised bankers for being out of touch, saying they didn't understand how angry average Americans were with them, according to a participant in the meeting.
A spokeswoman for Summers said it sounded like something he might have said, though she did not provide more specific confirmation. Five years after the collapse of Lehman Brothers and two years after the start of the Occupy Wall Street movement, Wall Street has drastically changed under an onslaught of new regulations and by some accounts become more conscious of its image on Main Street. Still, a new Reuters/Ipsos poll shows Main Street animus against bankers and their role in the financial crisis persists. (Click on http://link.reuters.com/sud23v for the results)
The anti-Wall Street sentiment bodes ill for the sector: It serves to pressure lawmakers and regulators into further restraining perceived excesses on Wall Street, threatening the long-term profitability of the industry.
OH, THE HUMANITY!
MORE BLATHER AT LINK
A few years ago, Larry Summers, then the director of President Barack Obama's National Economic Council, held a private meeting with some of Wall Street's top bankers and executives. Although the worst of the financial crisis was over by then, Summers - now seen as a candidate to be the next chairman of the U.S. Federal Reserve - chastised bankers for being out of touch, saying they didn't understand how angry average Americans were with them, according to a participant in the meeting.
A spokeswoman for Summers said it sounded like something he might have said, though she did not provide more specific confirmation. Five years after the collapse of Lehman Brothers and two years after the start of the Occupy Wall Street movement, Wall Street has drastically changed under an onslaught of new regulations and by some accounts become more conscious of its image on Main Street. Still, a new Reuters/Ipsos poll shows Main Street animus against bankers and their role in the financial crisis persists. (Click on http://link.reuters.com/sud23v for the results)
The anti-Wall Street sentiment bodes ill for the sector: It serves to pressure lawmakers and regulators into further restraining perceived excesses on Wall Street, threatening the long-term profitability of the industry.
OH, THE HUMANITY!
MORE BLATHER AT LINK
Edit history
Please sign in to view edit histories.
55 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
IMF WARNS: China Is Taking Ever Greater Risks And Putting The Financial System In Danger
xchrom
Sep 2013
#11
1. The Economist does not like 'leftists' (editorial line supports 'free markets'
Ghost Dog
Sep 2013
#41
+ The Economist dates back to the beginning of big banking. Here's Bagehot (1873):
Ghost Dog
Sep 2013
#44
James Gabraith, Neil Barofsky, and John Coffee Discuss Lessons from Lehman Meltdown
antigop
Sep 2013
#45
IN CONCLUSION: 5 years after Lehman, Americans still angry at Wall Street--POLL
Demeter
Sep 2013
#51