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January 17, 2014

Washington ‘beat’ Wall Street! No, it didn’t!

So did Washington “beat” Wall Street or not?

Going by this Politico piece that’s made waves Thursday, the answer’s yes. The Huffington Post’s take: it’s “imaginary” to think D.C. turned the financial industry “into a squeaking little gerbil.”

Here’s the start of the Politico piece by Ben White: “In 2009, Washington went to war against big Wall Street banks hoping to blow up the kind of high-risk, high-reward strategies that helped spark the financial crisis. Five years later, that war is largely over. And Washington won in a blowout.”

Wrong, shot back Dennis Kelleher, the president and CEO of Better Markets Inc., in a Huffington Post op-ed published a few hours after the Politico piece ran. (The “squeaking gerbil” line is from a separate Huffington Post article by Mark Gongloffhere.)”

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Read full Marketwatch article here

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