A Quote by Timothy Noah
When the only people in mainstream discourse who care about the working class are Wall Street investors, it really is time to ask where our politics went wrong.
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I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
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.
To get our economy back on track and keep it functioning properly without the problems of our financial institutions, we need reasonable regulations that will protect Main Street while at the same time allow Wall Street to do what it does best - make money for American investors.
Look at what's happening between Main Street and Wall Street. The stock market index is up 136 percent from the bottom. Middle class jobs lost during the correction: six million. Middle class jobs recovered: one million. So therefore we're up 16 percent on the jobs that were lost. These are only born-again jobs. We don't really have any new jobs, and there's a massive speculative frenzy going on in Wall Street that is disconnected from the real economy.
You can't manage Wall Street. Wall Street has its own viewpoints on everything. I have always believed, if you manage your business correctly, Wall Street will take care of itself.
Wall Street owns the country. It is no longer a government of the people, for the people and by the people, but a government for Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master…Let the bloodhounds of money who have dogged us thus far beware.
If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.
Everywhere I go - from Main Street to Wall Street - people ask, 'What's happened to our political system? Why can't Washington folks work together?'
People talk to me all the time about sexual harassment. This sort of behavior did not only happen in the past. And it's not in just the working class. It's in every industry. It's in the military. It's in politics.
It's fine to talk about politics with people you agree with. But it is rude to argue about politics with people you disagree with. Political discourse becomes isolated, and isolated discourse becomes more extreme.
Politics isn't something that really interested me; I, of course, care about what's going on in the world, but so much of political discourse now is not necessarily about doing what's right.
Wall Street's outsized influence in our nation's capital is something I've talked about for a long time - long before I even thought about running for office. But where I see a problem - an infestation, really - a lot of others in Washington, both Democrats and Republicans, seem to see government working just fine.
When I talk about 'working class,' I don't talk about 'white working class,'. I talk about 'working class,' and a third of working class people are people of color. If you are black, white, brown, gay, straight, you want a good job. There is no more unifying theme than that.
People talk about Wall Street greed, but one of the things many people don't understand is that there are a lot of organizations that have been the recipient of largess from the same Wall Street.
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