Better Markets President on finance parasites

Good historical perspective and discussion on steps needed to restore the rule of law in finance.

Dennis Kelleher talked about the state of Wall Street banking seven years after the financial crisis. Topics include the effectiveness of the 2010 Dodd-Frank financial regulations law that was passed in response to the crisis, and the potential impact of a recent $2.5 billion federal settlement on how banks conduct business. Here is a direct video link.

Something which is never mentioned in the discussion about ‘record’ bank fines to date…the trillions in leverage that the banks helped pump into the global finance system rocketed their profits many multiples above long term trends. The growth rate in fines has been a fraction of the growth rate in their profits.

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