Topic: What should Wall Street do? | |
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The protests against finance are popular and global. In America, they have attracted sympathy in high places: Barack Obama seems to view cosying up to the Occupy Wall Street protesters as a way to revive his flagging hopes of re-election. Even some Republicans think there may be votes in declaringkinship to them. A poll byCNN published on October 24th found that those who approve of Occupy Wall Street outnumber those who disapprove by 32% to 29%. Worse for Mr Blankfein and his pals, a hefty 54% of Americans say they don’t trust Wall Street to do what is right for the country, up from 30% in the 1990s. The financial industry alreadyfaces burdensome new regulations. If voters get any angrier, it could face even heavier ones.
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http://www.economist.com/node/21534759
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Truth is our capitalism sucks. We need to changeup our whole stock market system. More money should go to the smaller investors (dividends). Unless, the richer agrees to a higher tax rate to help balance the system more (which will never happen). One day the stock market is gonna crash again, and its going to be worse then it was before.
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