Heads Wall Street Wins, Tails Retirees Lose
"Heads I win, tails you lose" - this is the pithy motto of modern Wall Street, and deservedly so. It perfectly captures the con artistry of a too-big-to-fail investment firms that get to gamble with other people's money and yet know they inevitably will be bailed out by taxpayers when the losses pile up.
But here's the thing: the motto doesn't just summarize the financial shenanigans of the big banks. It also embodies the financial industry's cunning political strategy - the one which creates policy choices that seem distinct and binary, but that each conveniently end up padding Wall Street's bottom line and too often fleecing the average American. Heads, one proposed policy is a win for Wall Street, tails, the other policy is a loss for the middle class.
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