“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 Gongloff, here.)”
Read full Marketwatch article here