#occupywallstreet is not happy.Wall Street is a bully and Washington is a boss that is afraid of dealing with conflict.
Recently, it was reported that Citigroup was fined the equivalent of 7 days worth of profit (285 million dollars) for their role in triggering one of the worst financial disasters in US history. Citibank makes approximately 42 million dollars a day. The portfolio manager was ordered to pay fifty thousand dollars and won’t be allowed to trade on Wall Street for six months.
This ‘slap on the wrist’ couldn’t come at a worst time. People who have lost their jobs and their homes FOR LIFE aren’t too sympathetic.
We don’t need to see what happens behind closed doors between government officials and financial institutions. However, we do need to see specific significant measures taken to insure that this won’t happen again ie ZERO TOLERANCE.
EVERYONE needs to know what the rules are. When someone breaks those rules ( ie portfolio managers), investors should feel confident that the government has their back.
Confidence in the government will begin to create confidence in the economy.
As Seen On
