February 7, 2022
Master plumbers, electricians, mechanics, engineers -- tradesman of all kind-- these people are all held to a higher standard of excellence than Wall Street is held to. The reason is obvious: the consequences of malpractice and/or rule-breaking is often quite obvious for these trades. Boilers explode. Transformers get overloaded. Engines overheat. Bridges collapse. These effects are obvious and no one would accept such poor quality \"return on investment\" when paying one of these professionals.
Why is it that American taxpayers must accept such inexplicable price movement in their retirement funds? Or why American firms must endure such inexplicable hardship in generating the very capital they sought when issuing public equity?
Regulators have allowed Wall Street to run rampant on the American economy. They generate profits out of thin air - adding zero intrinsic value to the securities transacted in the process.
To whomever finds themselves reading this: I ask, has it not come time to tighten the grip on greedy Wall Street practices which ultimately effect each and every American taxpayer? When will it be time to stand up to powerful firms whose biased worldview centers on their ability to generate profits with a magic wand?
Me, I've nearly had enough of this tacit corruption. I fear the backbone of the American economy is fractured in more than one place. Now more than ever, I contemplate life in another country. Please, help convince me it's worth staying in this spiraling nation.