| Follow us @ twitter.com twitter.com Well-known analyst Merideth Whitney says the middle class is being "De-Banked" in her view, due to new regulations that go "too far in the other direction" in regulating wall street. But is this really true, or do the new regulations just punish the little guys or the yet-to-be (and maybe never become-at-all financial start-ups) financial services firms at the expense of the big boys on wall street? And speaking of the big boys of wall street, how exactly have they been doing on the latest piece of regulation meant to end proprietary trading by these firms from destabilizing the global financial markets and the global economy? We speak, of course, about the Volker Rule, which is Washington's attempt to "roll back" some of risky practices embraced by wall-street after the end of Glass-Steagal in the late 90's. Now, this is just one piece of regulation, but it is a start in a long battle to protect the vast majority of economic participants from having the reckless behavior and risky positions of these too-big-to-fail banks from destroying their financial futures. We speak to two members of "Occupy the SEC" - Alexis Goldstein and Caitlin Kline -- who have been working hard to protect you and me from the watering-down efforts that go on behind closed doors once bills have been passed and move back to the agencies to get "fleshed out." We will ask them about the market-making loopholes (remember, Lloyd Blankfein used this excuse when ... |
