Wall Street Has Set You Up Like a Bowling Pin

Wall Street’s Twists and Turns
Far from being mere unintended consequences on the road to facilitating capital formation and anchoring the capital markets, Wall Street turned a fairly straightforward one-way street leading to more, bigger, and better businesses across the country and the world into a superhighway with more twists and turns than a grand prix course.

And worse, there are no speed limits, and the roads go both ways at the same time, and the toll booths are manned by Armani-clad, Manolo Blanik-wearing bankers, traders and their flame-retardant and blame-retardant suit-wearing managers, and executives that tally the take.

How did an industry that accounted for between 5% to at most 7% of GDP in this country in the 1980s go to being responsible for between 17% and 20% of GDP by 2007?

That’s a lot of paper shuffling for some very lofty fees and fringe benefits.

But, of course, our GDP was made all the better and more stable and secure because of the Herculean efforts of all those banksters and pranksters… NOT!

We’ve been set up like bowling pins. Used like mailboxes in an alley where the Street’s bills pile up with public’s name on them, special-delivered at the direction of the new postmasters, Jamie D., Lloyd B., and Victor P., or DBP & Company for short.

Yeah DBP as in don’t bother pretending you don’t know we own your asses. Their mantra is “we make it rain, we bring the pain, we tally the gain, thank you again.”

Industry capture is a dead end for us, but a highway to riches for our captors.

If we’re ever going to get off this unlucky four-leaf clover interchange where we’re going round and round ending up at the same toll booths again and again, we’re going to have to fire most of the politicians in America, most of the bank executives, and most of the captured regulators.

And for that matter, the current president, who spoke a tough game but was himself captured by Wall Street money and fiddled with healthcare while Wall Street burned on.

Not that Mitt, whose glove is full of Wall Street money, will be any better. He might be worse.

Ron Paul, where in heaven’s name are you? Have you forsaken us?

By the way, I’m not leaving you hanging as to the games that turned Wall Street into easy street.

I detailed the cold, hard facts about the “unintended consequences” that have been planned all along. It’s called high frequency trading ( HFT) and it has the potential to kill the markets. To read my article from yesterday about the dangers of HFT click here.

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