The Reactionary Left and Financial Market Reform
Suppose that Congress took a step to channel low cost Federal loans to small community banks and community lending institutions - like micro-lending non-profits that specifically make capital available to people shut out of the normal banking system. And suppose that reform had already increased small business lending.
Or suppose the laws were changed to allow small business to sell shares and raise money via the Internet - without paying extortionate fees to the Wall Street “underwriters” who control access to the stock markets.
Or imagine that the government stepped in and provided short term financing to big industrial firms from a government bank instead of forcing industrial companies to pay fees to JP Morgan.
Or that the government took advantage of market panic and purchased at a low cost billions of dollars worth of Federally guaranteed loans that had essentially been designed as a way for rich people to make money with no risk, and had diverted the income flow from those loans to the public.
Or … , but you don’t have to imagine any of these steps - they all took place - and every single one of them has been bitterly attacked by the progressive left as a scam.