A Quote by Ron Chernow

If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals.
In the past, liberals have competed to see who could shout the loudest to shut down the banks, ridicule success, and penalize anyone working in finance. In fact, the Occupy Wall Street movement was an aggressive liberal effort to shut down Wall Street banks.
I was there in Washington in the `90s. It was pretty bad then. It`s much worse now [in 2015]. And that vicious cycle is you`ve got again big corporations, executives, Wall Street, very wealthy individuals in both parties who are calling the shots.
Tax the rich. End the wars. Break the power of lobbies in Washington. These are the demands of Occupy Wall Street. They are very important. The US corporations dominate Washington. The big oil companies, Wall Street banks and the military-industrial complex - they rule this country and their influence and power has to be broken.
Managing the other fellow's business is a fascinating game. Trade unionists all over the country have pronounced ideas for the reform of Wall Street banks; and Wall Street bankers are not far behind in giving plans for the tremendous improvement of trade union policies. Wholesalers have schemes for improving the retailer; the retailer knows just what is wrong in the conduct of wholesale business-and we might go through a long list.... Yet for some reason the classes that ought to be helped keep on stubbornly clinging to their own method of running their affairs.
As boom- and bust-prone as high finance always has been and remains, the greatest systemic risk to our economy is not Wall Street. It's the growing federal debt (and weakening dollar) being enacted by those Washington politicians - the ones who want to protect us from Wall Street.
I think that, in addition of the intersection of media and technology, there has also been an intersection between technology and finance, which is something I find a little closer to home, seeing as I spend so much time covering Wall Street banks.
From drug companies to health insurers to Wall Street banks, big corporations are spending millions to buy influence in Washington and drown out the voices of regular people.
'The Big Short' is, among other things, a blistering, detailed indictment of the way Wall Street does business, and its particular villains are the investment banks.
When I came out of Stanford, I looked at my brilliant classmates, who were going into Wall Street high finance, Silicon Valley, advanced engineering, and I said to myself, 'Jeff, go into an industry where nobody can add.'
Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.
By allowing super wealthy corporations and individuals to avoid paying their fair share of tax, tax havens are denying governments' revenue that could and should be spent on schools, healthcare, and other essential services.
Wealthy individuals have always had the capacity to influence politics, of course, but only after two key campaign finance cases - Wisconsin Right to Life and and Citizens United, have they been able to do it in such a large and blatant way.
I founded SkyBridge - an alternative investment management company focused on seeding and partnering with emerging managers and mentoring Wall Street's next generation of Wall Street's entrepreneurs - in 2005.
It is easier to disrupt consumer finance. It is much harder to disrupt institutional finance, Wall Street. It is very heavily regulated, and because it is institutional finance, you are dealing with incumbents.
Occupy has to continue as a bold, in-your-face movement - occupying banks, corporate headquarters, board meetings, campuses and Wall Street itself. We need weekly - if not daily - nonviolent assaults right on Wall Street.
I think what the secretary Hillary Clinton has recognized is the American people are extremely angry about the power of Wall Street, the greed, the illegal behavior of Wall Street.
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