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One year ago today, Lehman was allowed to fail. The economy went into shock and Wall St's investments began to unravel..
Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion" - Center on Budget and Policy Priorities
Here is an explanatory graph:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu9eBg. The quote on the anniversary of Lehman's collapse: “In the U.S. and many other countries, the too-big-to-fail banks have become even bigger. The problems are worse than they were in 2007 before the crisis.”
Wall Street's Mania for Short-Term Results Hurts Economy": "The more fundamental problem, as the Aspen panel reminds us, is that the components of modern finance -- the securities, the trading and investment strategies, the financing techniques, the technology, the fee structures and the culture in which they operate -- are all designed to work together to maximize short-term results. And, in such a self-reinforcing system, it is very difficult to change any one feature without changing all the rest."
Tell Congress
New laws should be put in place that end government support for companies becoming “too big to fail” and instead support jobs.
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