Wednesday, October 12, 2011

WALL STREET VS OCCUPY WALL STREET

OWS is winning:
Seven in 10 See Wall Street Negatively
By Gary Langer | ABC News – 4 hrs ago
Overall, this poll, produced for ABC News by Langer Research Associates, finds that 70 percent of Americans see Wall Street unfavorably, and essentially as many, 68 percent, hold an unfavorable opinion of the government in Washington. Negative views of Wall Street soar to 84 percent among liberal Democrats, versus 59 percent among conservative Republicans. Negative views of the government in Washington, meanwhile, reach 89 percent among conservative Republicans, versus 57 percent among liberal Democrats.

I'm also glad to see that the SEC has finally wised up to at least one of the moral hazards on Wall Street:
SEC backs ban on banks trading for own profit
By MARCY GORDON - AP Business Writer | AP – 9 hrs ago
WASHINGTON (AP) — The Securities and Exchange Commission Wednesday backed a proposal to bar banks from trading for their own profit instead of their clients.

The SEC is the third federal regulator to support the proposal, called the Volcker Rule after former Federal Reserve Chairman Paul Volcker. On Tuesday, the Federal Deposit Insurance Corp. and the Federal Reserve both backed it.

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