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"Work[ing] on Wall Street" is a metonym for all of finance, and the sentence in question (especially when paired with the previous sentence) implies that such e
by natrius 16y ago
"Work[ing] on Wall Street" is a metonym for all of finance, and the sentence in question (especially when paired with the previous sentence) implies that such exploits are the predominant endeavor in the industry.
- grandalf 16y agoI do think there are many legitimate aspects of finance. However if you consider the impact that mispriced real-estate had on credit markets, and consider that bad regulation led to over-investment in real-estate, then the massive chunk of the market that went away when the bubble burst was all profiting off of regulatory mistakes. I consider things like the mortgage interest deduction a massive regulatory mistake, as well as the capital gains tax exemption, etc.