The financial system is broken. When headlines say things like Washington state is losing 1 out of 20 jobs (as in jobs vanished) yet Chase Manhattan, beneficiary of government bailout monies, reports earning huge profits and will award the largest bonuses, something is wrong. Wall Street celebrated today by going over 10,000. Main street, however, isn't doing enough to let policy makers know the system is broken except for the lucky few in the financial industry. Where is the anger, the revolt, demanding better regulation and more commutarian financial services, which benefit those who make deposits, pay interest, and take risk in the stock market?
The system is broken.
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